Shortcuts Today Mean Setbacks Tomorrow

23:34Ken Coleman:And by selling them, how much money would you generate? So it wouldn't generate money. It would just cut back our expenses, which is where it's at. So we started with 100 chickens. Now we're down to 30. And so if I cut that down to like 10 or 15, then it would cut our expenses maybe in half. Oh, so it's just chickens. $600 a month. Yeah, it's just chickens. I mean... How much would it save you a month? Right now, the chicken food expenses, because I buy this really expensive grain, are$600 a month for all the pet expenses. So I think the chickens are$400 a month, so it would save me maybe$200 a month.

24:16How much do you guys make a year? We make$89 ,000 a year. Okay. I got a quick question.

24:26Ken Coleman:I'm clueless about this. Quick question, real quick. My friend has four city chickens. They just got them. How many eggs do 30 chickens produce? One a day usually, right, Olivia? They sometimes can produce one a day, but our chickens lately have been giving us five, which is really frustrating. Okay, here's my next question. Frustrating. Phenomenal. Frustrating. Why is that frustrating? I'll take them. I eat four eggs every morning, by the way. Wow, great protein. Yeah. My question is, to make some money, I understand the saving money, but are you selling these eggs and could you sell these? I have no idea what the egg market looks like for those fancy, you know, super chickens you've got that are super organic, well-fed.

25:08Ken Coleman:Could you make enough money to help pay off debt if you kept the 30 versus, in other words, are you making enough money off of these things? I don't think you're selling them, right? Like you're not. I was selling them and then they just stopped producing for some reason. They're not very old because they stopped producing at a certain age or if they're just losing their feathers and stuff. I thought you just said they're cranking out five a day. Yeah, 30 chickens are five a day, but I go through five eggs a day. Oh, 30 chickens are producing five eggs, not each chicken is five eggs. Oh, I was thinking 150 eggs a day.

25:42Oh, me too, me too. Oh, okay, yeah, I'd probably be getting rid of the chickens. Sorry.

25:46Ken Coleman:Well, this is your problem with me trying to figure out this question. I don't know. Okay. Yeah. You get rid of the chickens. Yeah. Yeah. Five a day. These are free loading chickens. They're just eating really, really well. Eating some roots. I know. These chickens are high on the hog here. You're giving them the best grain and they're collectively only pumping out five eggs a day. I know. Yeah. You know what those are? Those are welfare chickens. Yeah. getting the subsidies baby not a lot of production sorry a little political reference the audience appreciated it so yeah I think you get rid of them yeah sorry Olivia but you're only saving$200 a month $600 no no why did I hear$600 she'll tell you $600 is my pet expenses but I can't get rid of my dogs oh yeah I don't have a bunch of dogs because I just have old dogs.

26:43Ken Coleman:Tell you what, you want to hack people off? Talk to them about getting rid of their pets. I know. George got into that trouble on the horse. I'm not going to touch the dogs. No, no, no. That's in a different category than even horses. So, yeah. All right. So, yeah, that's going to save you$200 a month. And probably, Olivia, just some manual work, right? Like, that probably saves you some energy, too, because you guys are working hard to get out of this debt. But what else do you think you guys can be doing? Have you guys mapped out the rest of the$43 ,000? Because you guys have killed it. I mean, going down from$43 ,000, we're at$111 ,000.

27:22That's amazing. Yeah, I actually called in and I talked to somebody. I don't remember now. I think it was Jade. And they were telling me to sell my 4Runner, which I owed$50 ,000 on. And so then I sold a 4Runner, a boat, another car. and we got a truck. And so now we have one vehicle. Good for you. But I don't know how to get rid of this last$40 ,000. It feels like it's going to take years.

27:49Ken Coleman:Oh, okay. So you know exactly how you're going to do it. You're just going to keep doing the debt snowball and just taking cuts at it. Now you've got to get some more income, so how do we get more income? Yeah, my husband's been doing some training to get raises. He's expected to get a raise again in another month. He just got one two months ago. Okay, great. So what would those combined raises between the one he just got and the one he's going to get, how much will that add to your take home every month? I think it will bring another$1 ,200 a month. Okay, so that's$1 ,200 a month we didn't have.

28:24Ken Coleman:And then the chickens are gone. So add$200 on that. So you got$1 ,400. She got ahead. Way to go. That's$1 ,400 a month that you guys are going to be putting to this. You're going to knock this thing out way faster than you think. Let me tell you something. This is really important because you are at a place, and I love that you were honest and transparent with us, that you're feeling stuck. Like, oh, I'm mentally and emotionally, how are we going to get the remaining 43? It's really important that you don't allow that voice to win and that you get focused on the fact that we just got a$1 ,400 a month raise and that's$1 ,400 a month we can put towards this debt.

29:03Ken Coleman:Additionally, so what were you putting towards debt? Yeah, and even like two and a half years, Olivia, even at that rate. And then that doesn't even include if he gets a raise in a year from now, you know, in a couple hundred extra bucks a month. And you guys have been in it for a while, right? How long have you guys been working this? We started last February, but in between now and then. So I just had our second child and we got married and we paid for that in cash. And so I think just coming after, instead of just having one and now having two, it's just kind of a reality. For sure. But let's do a real quick math just to encourage you.

29:35Ken Coleman:How much money were you all putting towards the debt snowball each month prior to these raises and our chicken strategy? $1 ,000. Okay. So with the$1 ,400 that Rachel concocted there, that's$2 ,400 a month now. So now divide$43 ,000 by$2 ,400, and that's your number. Yeah. Less than two years, Olivia. And that's the max. I mean, that's the max it's going to take. Less than two years. You guys can do this. You got it. Yes. Okay. Okay, we can do this. You can. Yes, of course you can do it. Yes, yes. And it's one day at a time. It's so long. I know. But your life is going to be immeasurably better just by getting rid of these chickens.

30:16Focus on that. Almost like an extra three grand a month after all this has paid off that you guys are going to have.

30:21Ken Coleman:Oh, it's going to be great. It's great. It is so worth it. You guys just keep. It is a marathon, though. It is a marathon. Jade, her husband, you know, who you talk to, it took them, what, seven and a half years? Yeah. But they had close to half a million. Yeah. um but it was it was just that it is yeah it's a marathon but yeah you guys got this yeah and congratulations two years you can do it Olivia you can do it listen you know what's going on baby too you're tired thank you you're tired yeah yes baby number two and with what 30 chickens 30 chickens oh yeah that's a lot yeah how do you by the way who do you sell the chickens to who do you how does that happen do you put that out on like Facebook or something I don't think you can i think you can sell animals oh you can no you can sell chickens on facebook all right she knows i don't know but if i ever twenty dollars a piece how much like twenty dollars depending like i think i could probably get 20 to 30 for mine that's a pretty good deal given that these are welfare chickens and they're not producing our welfare chickens how do you even sell a welfare chicken that these 30 don't lay eggs they just eat or you just say they're cute You don't say anything about production.

31:30Just look how cute they are.

31:31Ken Coleman:You have 30 bucks to watch a chicken bebop around my backyard? I'm not doing it. If you're cranking out eggs, I'd pay a premium for that. No, that'd be good eggs. Wow. I didn't, by the way, this is all very exciting to me, James. I had no idea there was such a thing as a welfare chicken. Didn't know.

32:02Ken Coleman:I've been helping people get margin back in their budget for over 30 years. And switching your phone plan is one of the easiest wins out there, especially with Boost Mobile. Boost gives you unlimited talk, text, and data for just$25 a month. And I'm not talking about some promo rate that goes up later. That$25 price is locked in forever. No contracts, no headaches, and with their 30-day money-back guarantee, there's no risk. So stop wasting money. Go to BoostMobile.com slash Ramsey today. Restrictions apply. See BoostMobile.com slash Ramsey for details.

32:58Ken Coleman:All right, let's go to Mackenzie next, who's joining us in Little Rock, Arkansas. Mackenzie, how can we help? Hi, guys. Hi. Thank you for taking my call. Sure. So my question is, my husband and I are currently in babysat too. We've been really tackling our debt for the past year. My question is, is it a bad decision for me to quit my job and become a stay-at-home mom, possibly take a pay cut for the next year? How big of a pay cut? I currently make about$76 ,000. $56 ,000 of that is my salary, and$20 ,000 is veterans' benefits. How much does your husband make? He makes about$90 ,000. So we would go to$90 ,000 for how long?

33:40Well, it would be about$90 ,000 plus my$20 ,000 in benefits. So I would still have that little bit of income. And then he is potentially going to be getting a pay raise in about a year to a year and a half.

33:54Ken Coleman:Well, I think the simple question always in this scenario is, if you go back to the$20 ,000 or whatever your situation is, are you guys going to be tight or are you guys going to have some margin? I think that we would be tight. I've tried running the numbers. I currently hold our benefits, like health insurance and things like that. So that's something that we would have to switch over to him. I think in general we would have a little bit of a margin, but definitely not like what we have right now. How much debt do you guys have left, McKenzie? We have about$75 ,000. That's two cars and a student loan.

34:29Okay. How much are the cars? I have a loan for$17 ,000. My husband has one for about$20 ,000. And then he has a student loan for$30 ,000. Okay. How much are they worth, the$17 ,000 and the$20 ,000? I haven't really checked into it. I don't think that we're in the hole on them. but I'm not really sure what the worth would be right now. Yeah. And how old are the kids? Well, I have a six-year-old who's in school, and I have a four-year-old who will have to wait one more year from her birthday to go into kindergarten.

35:09Ken Coleman:Okay. Okay. What are the combined car payments? $875. I would look at trying to sell those. If you want to come home, one of the first things I'd be doing is how do we downsize our car situation? Because now we gave ourself an$860 a month raise, which would probably give you more margin. Gotcha. That's at a minimum. That's at a minimum right now. Is there a way for you to tough it out? Is it even possible emotionally, physically, all the things to stay with your job until you pay off the debt? Yeah. So, I mean, technically, I actually really enjoy working. I don't really want to go back to being at home.

35:53But my daughter who is in daycare, the one that has to wait another year to go to kindergarten, she is just not thriving. I feel like it would be better for her to be at home with me so I can meet her needs a little bit better.

36:07Ken Coleman:Is there something specific that's really, really like special need type situation or is she just struggling in general? um and she does well like socially and academically um she does have some feeding issues where she's you know some days refusing to eat most of the day and they're trying to coerce her to eat um you know things like that does she do that with you she is really picky at home as well but i can get her to eat a little bit more because i can spend more time yeah you know okay so tell me that's mckenzie will she start kindergarten in next like August or September? Yes. So one more year.

36:44But next August. Is your position, are you in a scenario where if you did come home for a year, you could go back? I don't think I would go back into the same position I'm in currently, but I work in a field that I could easily sign another job, maybe not as high paying. But yeah, the other thing is, you know, my husband in about a year and a year and a half will actually be getting a pay raise to the amount that I'm currently making in my position. Okay.

37:12Ken Coleman:Here's an idea, and I'm by no means suggesting this is the silver bullet. May not be a good idea. But hearing what I just heard, if I were you, knowing that you like to work, it's good income, and it's really kind of a unique situation, I wonder if there is an older family member or an older grandmother that's retired, that's still vibrant, that has the one-on-one ability that you have, that could build trust with your daughter. I just wonder, instead of a traditional daycare, if you didn't find somebody to be in the home with her and work through this. And the reason I'm saying I would try that is because let's say you do this and you come home and you're able to coax her because of the relationship and you get her where she's eating.

37:58Ken Coleman:She's still, either this thing gets solved between now and kindergarten, or you may be faced with a homeschool situation if she does the same thing at kindergarten. I'm sure you've thought through that. I just wonder, is that a viable idea to have somebody in the home? You continue to work because you enjoy it, number one. Number two, it's great income. And then you've got somebody that's one-on-one with her, highly trusted, loves her, cares for her. Is that a possibility or no? if it was a family member no we don't have that possibility right now um but i have looked into doing like a nanny in the home but considering the hours that we work in our commute to work um and the pay it would be too much i mean we're already paying way too much for daycare anyways yeah so it was just yeah i wasn't talking a professional nanny i'm talking like an older We did this, by the way, when Stacy was working and the kids were late elementary, maybe one in middle school.

39:00Ken Coleman:We love her, Miss Pam. And we looked and we looked and we talked. We didn't put out an ad. We just used our personal relationships and our connections. And we found Miss Pam and Miss Pam was probably 62, but very strong and very healthy. She was retired and she wanted to do something. And so we had her there for X amount of hours a day doing mom helper stuff. But in this situation, I would at least try it in this particular situation. If it doesn't work, totally get it. It was just an idea there. But what are your thoughts here? I think, I don't know, my whole take on things is I make decisions fighting for peace.

39:39Like, how can I have the most peace in my life? What are things that I can do? And that's one reason we do this show is because people don't have peace with their money. So you're like, they don't have peace at work. And it's like, okay, what decisions do we have to make in order to gain the most peace? Right. And so for you guys, Mackenzie, that's a very personal question to you and your husband. And if there is not, if the, I just imagine as a mom, if there was something happening and one of our children who will not be named is the one, she doesn't struggle with like the eating stuff, Mackenzie, but she's our, she's our one that we're like.

40:08Ken Coleman:She's your drama queen. She's our, she's great. She's awesome. But if she was really struggling at school, like I would have so, I would be so distracted at work. Like it would just, it would be torturous. It'd be terrible. And so, so honestly, maybe you guys say, Hey, it actually creates more peace for you to be home. And it takes us an extra nine to 12 months to get out of debt. That feels way more peaceful than doing this and being miserable for a year, but yet we get out of debt and then you get to come home, but yet then she goes to kindergarten and life looks different there too. So I don't, I mean, getting out of debt frees up a lot.

40:42And so talking to your husband and usually Sometimes the men carry a lot of the stress too when it comes to the money. So you guys just have a really honest conversation and paint a couple of pictures too. Like I always hate the idea of we only have one option, you know? Like when we talk to people buying a home, like it's the only home. It's the only home that has everything we want. We're like, no, no, you limit yourself. So paint four different options, McKenzie. Let Ken's option be option A and hey, let's see what's over here. Option B, you just stay home. Yes, stay home and sell the cars.

41:14If you stay home, the car's got to go, Mackenzie. I would nix those. Option C, is there a position that's part-time and she could be in daycare Monday, Wednesday, Friday, and you work Tuesday, Thursday to get out of debt six months earlier? I don't know. Like, start doing some math, painting some pictures, and what, from a gut check for you guys, creates a family and an environment that you guys can hold and feel good about, right? So that's the way I'd answer that, especially with moms staying home with kids and stuff. Now, we talked to some people, Mackenzie, and she makes 40, he makes 40, and they can't even pay the bills without a dual income.

41:51And so those people, they don't have an option. They have to go to work to keep their lights on. And so if you guys have the ability for you to go home, everything can still be paid. And then on top of that, maybe getting a little extra to get out of debt faster.

42:05Ken Coleman:Yeah, you said something. Mackenzie, one last thing. Rachel just said something that triggered something to me. I think you're absolutely right. You were kind of wishy-washy on the question of if you go home, is it going to be tight? You said, I've run the numbers kind of. Here's my point. You and your husband both need to run those numbers, and both of you be able to look at each other and go, okay, if we do this, we know we're only going to have$200 margin or whatever the number is. And then if we sell the cars, it could be$1 ,000. Get real clear on that because that could create relationship tension if you don't.

42:48Ken Coleman:George, I went my whole life avoiding being on the internet. And now, everything I do in my life, my professional life, my personal life, everything's on the internet. And so now, identity theft protection means the world to me and my family. And I'm the resident techie millennial here, so I've been on the internet since before it existed. And I've actually had my identity stolen before, but good news, we both have identity theft protection from Xander. They monitor our personal info on hundreds of thousands of databases, and they alert us of any suspicious activity. And that's everything from social security number activity to home title monitoring and more.

43:24Ken Coleman:So the key is identity theft does happen, unfortunately, but if it happens, Xander handles everything. Up to$2 million in stolen funds protection and white glove service to restore your life back to normal. I don't understand how the internets work. I don't understand what's going on in this little cyber-y world. And that's why I'm so grateful for Xander. They've got me and my family's back. They've got you and your family's back. And it gives me one less thing to worry about, one less thing to be anxious about. And it lets me be a dad that sleeps at night. Yes, and all you got to do is go to Xander.com or call 800-356-4282 to protect your family with the most complete ID theft protection available.

44:03Ken Coleman:That's Xander.com.

44:26Ken Coleman:This is the Ramsey Show, where America comes to have a conversation about their money, about their profession, and about their relationships. The phone number for you to jump in on the conversation is 888-825-5225, 888-825-5225. Alongside the fabulous Rachel Cruz, I'm Ken Coleman, and we are together for you. We started off with Cynthia in Atlanta, Georgia. Cynthia, how can we help? Hey, how are you? Good. How are you today? Pretty good. I'm trying to think of where to start. Pretty much I am newly divorced. I don't know if two years is newly. Since then, everything has gone to poop. I have had an eviction notice every single month.

45:20Oh, no, Cynthia. Since my divorce, I'm currently under eviction. And three days ago, my car was repossessed. Oh, no. Oh, my gosh.

45:31Ken Coleman:Now, help me understand, how are you getting an eviction notice every month for 24 months? Okay, so how it works is if you don't pay rent by the 24th, then they add on the next month. So say if I don't have it and say I don't get the money till June 24th, okay, well now I have to pay July. So it's like I keep getting caught behind. By like basically one month. The 20th. Okay, gotcha. Okay. Is it because of how your paycheck's hitting? Well, I'm self-employed, but it's like while you're trying to save up for something, life is still happening. The light bill is happening. The phone bill is happening.

46:19Insurance is happening. What do you do?

46:21Ken Coleman:What do you do for yourself? What do I do for a living? I have an online store. Selling. Baked goods. Sweetheart, you're not paying yourself very much because you're not making very much, I'm guessing. Well, I... What did you make last year? I'm making like... Last year, it was 50. Well, let me just tell you, during my divorce, I'm trying to be as fast as possible, I was the breadwinner. So 2021, I grossed$350 ,000. Selling online baked goods? Yes. Wow. Okay, I'm a little surprised by that. And then after my divorce, it just kept going down,$198 ,000. Why? $100 ,000. Well, I will say we had a very expensive wedding that I footed the bill for, But before I could financially recover from the wedding, we were being divorced.

47:28Ken Coleman:We were only married for nine months. No, no. Why did your income go down? I don't understand what your answer has to do with your business itself grossing$350 ,000. Well, business had slowed down. And then by me making everything and having to keep relocating, it's just throwing off my customer service and the shipping. Got you. And so now here you are post-divorce, two years. What are you projected to make or pay yourself this year off of this business? Well, I haven't really been – I've been mingling money. I know I'm not supposed to because I feel like I'm not bringing in enough to separate it.

48:15Ken Coleman:What do you mean by mingling money? With the business and your personal? Because I, yeah, yeah. Well, forget that for a moment. We're trying to help you out. And I got to get to a baseline of what do you think your income is going to be? Because what I'm diving into here is, do you need to wrap this business up and go work for somebody else? Because you are drowning and there's not enough income. I'm sure there's some debt and we're going to get into that. I'm just trying to establish a baseline. And by income, Cynthia, like being able to support yourself to pay rent. Do you know what I mean? I mean, like basic income.

48:46This is an extra margin to throw at debt. This is like paying your car payment, which didn't happen and it got repossessed. Paying your rents, keeping the lights on, like basics. How much does it take for your household to run per month, Cynthia? Do you know? Without all the extra stuff, but like for real, like how much is rent, lights, utilities? everybody's what's the what's the baseline i'll say about 3200 3200 okay to keep everything afloat that's rents lights on gas in the car or what are you doing for a car do they take it yeah yeah do you what's your plan for that i'm gonna try to get it back okay but i feel like it's either either pay back rent or pay for the car.

49:36I don't know how to do both.

49:38Ken Coleman:Well, let me tell you what helps this situation. Working and getting paid. And that's what I'm going to come back to. What are you paying yourself right now per month off of this business that you run?

49:51Like I said, I'm not separating it. So I'm just spending. I'm not really saying, okay, this is for the business this is for me okay but do you understand i feel like i'm not making enough how much are you making cynthia per month how much is the business bringing in that's what i'm trying to get at probably about six thousand six thousand dollars a month okay okay that's not

50:15Ken Coleman:enough it's not enough so you're in a real situation right now where you've got a skill and you've got some experience and and i don't want to spend any more time i don't want to belabor it I don't want you to feel bad about it as to why the business has dropped from a high watermark of$350 ,000, which is a pretty good number for a solopreneur certainly selling on like baked goods. Sure, to$60 ,000. We don't have time to break down why it's fallen, but we are in a situation where we cannot pay rent and we cannot afford our car. It's been repoed, and you need to go work for somebody today, tomorrow.

50:51Ken Coleman:Like you've got to get some income, number one, and then I want to give it back to Rachel. So you also got to get a hold of your finances. And this is going to give you whiplash because we're basically saying you got to do something different than what you're doing right now. So I don't know if you're still doing baked goods and at night you're working somewhere else. Or if you close everything down and you say, do you have like equipment that you could sell from the bakery that you could get some cash flow in? No. What does that mean? No. I'm shocked at that answer. Where did all the equipment go when you were making 350?

51:26I mean, I'm sure you had some kind of... No, home-based.

51:30Ken Coleman:You're just like using your stove and your oven and all that? Mm-hmm. Yes. Okay. Okay, I would make that my part-time thing, and I'd go find something full-time. Because you can still sell. You still have your website, all of that, and you're not fulfilling a ton of orders, from what it sounds like. And so I would go be doing something else during the day. Because, I mean, this is crunch time, Cynthia. This really is one of these things, like, you need to go to Target tomorrow and say, hey, can I do an hourly job? Like, I don't care what it is. That's right. But to find something to be bringing this money in, because we have to get that part of this going.

52:01There's not much expenses to cut from$3 ,200, right? It's not. But anything else that you have, keep that$6 ,000 coming in from the business if you can. And then on top of that, you have to go be doing something else. How much did you owe on the car? How many back payments? About three. $3 ,000? Well, with three payments. Three payments. Okay. Yeah, with like going fees. Yeah. Do you have anything you can sell to get two grand to take it down to them and say, hey, can I just shore this up?

52:40No, not. No. Okay. Well, the number one A1 priority is keep a roof over your head, keep food coming in, and you can use that from the bakery. And then everything else is going to have to come from a different income to be putting towards this repo and other debt that you have. Cynthia, I'm so sorry.

53:16These days, business as usual is anything but. Tariffs make trade policy a moving target, supply chains are squeezed, and cash flow is probably tighter than ever. So if your business can't adapt in real time, you're in a world of hurt. That's why you need NetSuite by Oracle, trusted by more than 41 ,000 businesses, including Ramsey Solutions. You need to see what's happening, what's stuck, and what's costing you, and how to fix it. And NetSuite is the number one cloud-based business management suite because it helps your business make the right decisions fast. It brings accounting, financial management, inventory, and HR into one place so you're not left shuffling a dozen different spreadsheets.

54:02That gives you the visibility you need to make quick decisions based on actionable data. And NetSuite AI automates everyday tasks so your team can focus on strategy. It's one system for full control and no guesswork to tame the chaos. And right now, if you're leading a business doing more than a million dollars in annual revenue, download NetSuite's free e-book, Navigating Global Trade, Three Insights for Leaders at netsuite.com slash Ramsey. That's netsuite.com slash Ramsey.

54:49Ken Coleman:Charlene in Salt Lake City is where we're going. Charlene, how can we help today? Hi, thank you so much for taking my call. I am wondering, how do I help my husband? We're currently in baby step number two. We're enrolled in Ramsey Plus, taking Financial Peace University. And how do I help get my husband to that gazelle level of intensity to tackle our debt? Ah, threaten to send him to the council. I'm kidding. No, don't do that. That's terrible. Okay, give me like a range. Yeah, like you're here and this is what you're doing versus what he's doing. What are you wanting more of? Yeah. So we have about$100 ,000 in debt outside of our home loan.

55:40And we grossed about$135 ,000. I have opened up like a little hobby side business to bring in some extra money on top of my full-time job. We also have 10-month-old twins. Oh, my gosh. Yes. So that's kind of, that was a new expense that really made finances tight. And there's also a property back taxes because we built a home, so the tax evaluation wasn't correct. And then the county made an error for all property taxes, and that raised our total monthly mortgage payment by like$600 a month.

56:22Ken Coleman:Oh, that's fun. Yes. I remember that come election day. Just me. So let me ask you this. If you could wave a wand and say, I wish he would do this or this, what is that?

56:41I wish that he would look for promotional opportunities. Okay.

56:48Ken Coleman:Because that would obviously bring more money. Anything else? Yeah. Yeah, he also, you know, because I've been selling items, and, you know, I mentioned selling like our miter saw, and he, you know, had a little bit of a hard time with that. And we also have a truck that his mom totaled in February. But my husband made the decision to salvage it. And that is our third vehicle. And he's not willing to give that up. And so it's just really hard when I'm like... Okay, I got it. Yeah, Rachel, you're... Yeah, the reason I asked that question is because you said, how can I help him be more gazelle intense?

57:38Ken Coleman:And I think you've got to, you, and I'm glad you shared it with us, you've got to identify where those specific pain points are. And Rachel, I'm curious as to what you're going to say about how to communicate it. But I think that, well, I have one other quick question. I'm going to hand it to Rachel. I do have another question. Were you the one that brought the whole Ramsey thing to him? Or did you guys come at it together? For sure. Oh, yeah, I can hear it in your voice. She did, right? Okay. I sure did. Now, I'm not making excuses for Hubs, but I am pointing out that he doesn't have total buy-in yet.

58:12Ken Coleman:And so you're going to have to help him with the buy-in. I think Rachel's probably going to be better at me and give any advice on that. But as a dude, I will tell you, tools, salvaging the junk, that's such a dude thing. and he's incapable of thinking about those the way you think about him. But if you can get him on board with what you're doing and why, and he begins to come along, then those things. So in other words, it's a transaction that he's not interested in right now. And you got to get it beyond transaction is what I'm getting at. He's just not there yet. Yeah, no. I mean, yeah, I think that's the biggest obvious problem is that you guys don't care about the same thing, right?

58:58If you both cared about getting out of debt, you would both put in effort. And maybe even at that point, there's still always the nerd and the free spirit. There's always gonna be the one that's always gonna be a little bit more intense that will like literally eat peanut butter for a year, you know, and the other one's like, no, we need a little bit of a lot.

59:13Ken Coleman:He's not fighting you on this stuff, is he? Well, my worry is that you sold something that you guys didn't talk about is what it sounded like, right? Are you like going through and like putting stuff for sale? And you're like, sorry, babe, this is leaving and this is leaving uh because her stuff i think no he said a saw she said no no she said she wanted to sell the miter saw and he was like oh i'm sorry he was like i thought she did no he's like leave my stuff alone i hear you i hear you i hear you leave my junk car yeah i've been selling things that he doesn't necessarily care about like some of our baby clothes you know gotcha i gotcha but is he on board right so is he on board with the concept to the baby steps though?

59:54I think he wants to be, he's just, he's always been a happy-go-lucky guy and then the internal optimist. And so, it just. So what you have to communicate to him and it's not like, I want you to sell this or do that. It's, here's where I'm coming from and here's what I'm feeling and what I'm thinking. It's not, you're not doing this and you're not doing that. Like what's going on in you? I mean, I can imagine what's going on in you is there's, there's a level of fear. I'll just say how I would probably feel if I were in your shoes. I have two 10 month old twins, which is just God bless you, girl.

1:00:29I mean, unbelievable. I'm working a full time job. I'm exhausted. I'm kind of scared. And the fact my husband doesn't share in the fear with me at all scares me even more. And that makes me not feel cared for. I don't feel seen the hard work I am putting in. He's not acknowledging like it starts to just break down. Is that right? Would you agree? Yeah. I mean, with the business, I kind of, so my twins are IVF twins. And so that was expensive. We paid for it all out of savings, but we took a break for it. And that's when I opened up my side hobby business. Right. Yeah. And he just has a hard time.

1:01:08He's had a hard time buying into that. But a couple of weeks ago, I had like a pop-up market event that I pulled in$1 ,400 in sales over a weekend. Yeah. And so he's starting to buy in a little bit more. But yeah, it's – I got a thought. So I think he's not going to be doing the actions until he and you guys agree from the starting place. I agree. That this is what we're wanting to do as a couple. And so you'll always be frustrated until you guys can have a shared goal that this is what you guys want to do as a couple. And that's the hardest thing. And the way to tell him and communicate that is coming from you, of what you're feeling, what you're thinking, why you're wanting to do this, all of that.

1:01:50And my hope is always if a husband looks across the table at his wife who's scared, who's longing for something that's like, you know what I mean?

1:01:59Ken Coleman:Oh, you're nailing it. Let me ask you a quick question. Charlene, he's a good husband, isn't he? He's wonderful. I had that sense. I had that sense. Let me ask you this. I'm going to flip this on you. If you went to him today and said, hey, babe, I'm scared about something with my health. I've been experiencing this. I'm feeling this. Something health related. And you shared with him that you felt like you needed to go get some medical treatment for it. How would he react to something like that? Give me an answer. He would go out all the stocks to get me there. Okay. Here's why I asked the question.

1:02:37Ken Coleman:that's what rachel has just said what rachel said is absolutely right he doesn't if you went to him with a health thing he would be like go get the test we do whatever it takes he has to see that what you're feeling about debt and this whole debt snowball ramsay plan all this stuff this isn't some cockamamie idea that you came up with that you saw on instagram this is a problem for you and if he hears it that way and sees it and I think you could even go so far saying hey I haven't done a good job of actually telling you why all of this is such a big deal to me and I need to really tell you how I feel the way Rachel laid it out and I think if he did that I think it's got a great chance knowing what we know about him and what you said about him as a husband and how he'd react to the physical I think it's on you to cast a little bit more vision a little bit more real feelings and I think he'll get there.

1:03:32Okay.

1:03:33Ken Coleman:And by the way, keep selling your own stuff. Model the way. And at some point, he goes, well, I probably could get rid of that car. And in an ideal situation, too, when you guys get through all of the heart stuff, if you can get him and you guys sit down and have numbers on the table of like, okay, here's this debt, this debt, this debt, this debt. Here's what we make. We could be out in 18 months or like or if we sold this we could be out in 16 months like start painting some scenarios for him because this whole just idea because especially if you're a free spirit chill person mr optimism the idea of like sacrificing life so to get out it's like he's like the glass is always full we'll be fine you know and so to show him that it's not forever because you may be painting this picture of like oh my gosh this is going to be you know our whole life and it's not it's going to be a short amount of time but get some numbers and some facts down so you both can see them.

1:04:37Ken Coleman:Thank you. doctor will notice your improved health or you get your money back. So go to fieldofgreens.com slash Ramsey for 20 % off your first order. That's fieldofgreens.com slash Ramsey to save 20 % on your first order.

1:05:36Ken Coleman:All right, folks, if you are tired of the paycheck to paycheck lifestyle, you need to jump in on our free EveryDollar trainings. EveryDollar is our world famous now and just an unbelievably beautiful tool. I'm doing one tomorrow, Ken. Are you doing one? I did one yesterday and then I'm on tomorrow. Okay, this is great because I'm telling people about this. It's absolutely free. Describe it from your point of view. Yeah, we're on together for about, I don't know, 45 minutes to an hour. And we walk through how to show people how you can get margin. Almost, I think it's like over$9 ,000 people are finding in the first 30 days.

1:06:10It's crazy. But it's all through looking at, okay, how do you do a high level budget? Basically, when you connect your bank through every dollar and you get those transactions and you start seeing your actual spending habits. And there's so much coaching now inside of EveryDollar from the digital coaching and on. Like it's so great. It is so great. So helpful for people because people have a lot of questions. So we kind of just walk through that and then we do a live Q &A too. But there's so many resources now that the EveryDollar team's putting out and it's fantastic. But it's just a great training.

1:06:40If you're like, hey, I really do want to get, I want to break that paycheck to paycheck cycle. I want some margin. We really walk you through and show you how. So it's fun.

1:06:49Ken Coleman:Everydollar.com slash webinar. Everydollar.com slash webinar. Can't be any easier, and it's free. Did I mention it's free? I've seen you people at the baseball games and football games, they throw a free T-shirt in the crowd. And they go crazy. And perfectly normal, well-adjusted adults start acting like children over a free T-shirt. And some will, like, wrestle the person in front of the person, like if someone else catches it. Oh, it's like a WWE Monday Night Raw match just to get a free t-shirt that doesn't even fit. So why wouldn't you clamor for a free Every Dollar webinar? There's my guilt trip.

1:07:27Ken Coleman:That's all I'm going to say. Kelsey is up in Toronto, Ontario, Canada. Kelsey, how can we help? Hi. Okay, so a bit of a weird situation. I bought my own house with my two kids, and I've been living there for roughly about seven years, And I met my boyfriend. He lives across the street in his own house. And now that we've been together roughly seven years, we kind of want to amalgamate. And I just don't know what is more responsible. Do I keep my house as like a rental? Because the type of house we need is going to be a decent amount because I need four bedrooms and a garage. so i don't know what the best solution is like we don't know should we sell both houses and just get the one um would that be irresponsible letting go one of the houses um we're just not sure okay hold on all right so hold on okay all right so i think it's fascinating you guys have been together for seven years and you chose the word amalgamate which i had to google and i'm a real word nerd am I not Rachel there it is on the screen the word is amalgamate I couldn't spell that if my life depended on it and again I'm a reader you're living together right no no it means it means to combine or unite to form an organization or structure and I'm laughing out loud you know inside because I didn't want to interrupt you yeah you're not gonna amalgamate you guys need to get I guess that's not the word.

1:09:13Ken Coleman:It's not the word. It's called matrimony. We want to move in together. No, no. She doesn't want to get married. They're not getting married. I know she doesn't. Living together. But what I'm saying is you ought to consider matrimony at this point. For seven years we've been together. Here's why. You do not, and Rachel can explain here why we do not like the idea of the house thing getting mixed together. It needs to be very separate. As long as you guys are amalgamating and not being married, then those houses and money and everything need to stay separate. I'm not kidding you. James will remember this.

1:09:50Ken Coleman:I feel like over the last couple weeks, George and I got multiple calls of couples who decided to move in together and mix their finances. And then shockingly, the amalgamation stopped and it was a mess. so what do you do if the other person may not want that want to get married but they do want to move why do you want to be with them kelsey great question um because i really love him he's really great person but he doesn't want to commit to you he doesn't love you as much as you love him i just think that he's a little worried maybe from past relationships or something Kelsey, how old are your kids?

1:10:32My kids are 9 and 11. Okay, okay. Those are the ages of mine. Yeah, and so I've raised them by myself in my house. You've done a great job. Yeah, for sure. As a single mom, I can't imagine.

1:10:43Ken Coleman:He lives across the street, right? He lives across the street. What do we do? Directly across the street. Okay, I'm going to be, can I play older brother for 30 seconds? They're playing house without him having to come in. 100%. Can I be your older brother for 30 seconds? Okay. Okay, great. Thank you. You gave me permission to be older brother. Okay. Why in the world would you consider moving in with a guy who doesn't want to marry you after seven years when he lives across the freaking street? When you guys want to amalgamate, it's really quick to walk back and forth. I don't understand. I'm dead serious.

1:11:19Ken Coleman:If you were my sister, I'd be like, what are you thinking? Here's a guy that's had seven years to figure out if he feels safe with you emotionally. so I don't buy his excuse which by the way you've swallowed whole because you're amazing and you love this guy but his excuse of I've been burned in the past he's had seven years to kick the tires and you're no tire but you get the analogy what are we doing here he lives across the street why would you move okay answer that it's getting difficult on my end because I'm having a hard time now with everything going on in the world that like inflation is crazy and I'm just struggling while he's kind of doing pretty well over here oh wait a second wait wait wait wait this is great so you want to combine finances but he doesn't want to marry you help oh no but guess what he doesn't want to marry you you want his help but he doesn't want to help this is weird this is messed up rachel please come in with a female perspective i've done the older brother thing yeah i mean how do you feel about this on her behalf no it's everything you're saying that i mean my number one is always and i think i've gotten i'll say this i think i've gotten even more conservative on my stance of this that that i first of all like the fact that you're getting more conservative no i'm just saying in the sense of in a relationship i just think marriage for the kid's sake, for your sake, like there is, there is a, there is something that happens to the bond of a person when you commit and say, I'm going to commit my life to you.

1:12:54And I think it's good for you. I think it's good for the world. Like, I think that it is a good thing, Kelsey. And for you long-term, you will always, always be in the balance of he could walk out, Kelsey, like that. And you have built your life around a man and his money at this point. And he could take that in a second and you have no legal obligation you have nothing preach i'm gonna take and then you are way more on a bad end yeah so i get it now listen but i guess that's what it is no no you're great i totally there's no protection for you kelsey yeah and and there is something about that commitment of marriage not only from an emotional and spiritual side um but also this financial side that we're talking about and you're setting yourself up for a lot of danger not only relationally, but financially.

1:13:41Ken Coleman:And if he's, yeah, if he's willing to marry you, if he's willing to marry you, then we go through with all this. You sell your house, you guys figure out which house you want to live in, sell his, I don't care. But to become one, that's a great plan. You guys have been together for seven years. I don't know what his problem is, but it's a problem. He needs to commit. And if not, by the way, you've done a great job to this point as a single mom. And as a, yes. And if he, and if you still love him and you get off this call, you're like the Ken and Rachel are insane. No, no, no. No, I'm right. All I'm asking you, Kelsey, is just don't commingle the finances.

1:14:14Don't do it. Do not build your life on someone else's finances that you're not married to. Please don't. For your kids, for everything. I'm just like, it's just, that is not, it's just not a smart decision. It is not a smart decision. And I freaking hate that he, what, a little immature. Can I say it? Yes. For seven years, you're getting a woman with two kids.

1:14:32Ken Coleman:He's a deadbeat. I'll tell you. He's a deadbeat boyfriend. Probably a nice guy. but as a boyfriend it's like what are we waiting on seven years commit man we got a bunch of men in this society by the way this is a this is a societal problem got a bunch of men that just won't commit well i'll be honest because they can live like they're married they get what they want because women don't hold like it's just like it's a it's she needs to lay out an ultimatum there's an old phrase why buy the cow and you get the milk for free this is a thing this is not difficult commit or i'm out We'll be right back.

1:15:47Ken Coleman:All right, it's time for our question of the day here on the Ramsey Show, brought to you by Why Refi. If you're ready to stop drowning in private student loan debt, Why Refi throws you a rope. You can talk to Why Refi to see if refinancing your defaulted loans with a low fixed rate is an option for you. Go to yrefy.com slash Ramsey. That's y-r-e-f-y dot com slash Ramsey. It may not be available in all states. All right. Today's question comes from Sarah in Washington. I have two adult children living at home. My daughter's 21 and I've supported her while she cash flowed college full time. My 18 year old son passed on college and has a great trades job.

1:16:29I'm about to have a conversation with them, giving them six months notice that I'll start charging them a small amount of rent, just a couple hundred dollars each for the principle of not living here for free forever. How would you justify the rent to them in this conversation? I've never planned on making them pay rent, but after listening to your show, I have changed my mind, but I'm struggling to find the right words for this conversation. Oh man.

1:16:54Ken Coleman:Well, I'm not the guy you want to ask that question to because for the 21 year old, it's like you're out. I know that's what I was gonna say. God bless you. I'd love for you to come by all the time. I'm gonna keep stock in the fridge. You visiting is great. You living here is not. Yeah. But now I don't know if that's too hardcore. And we'll see where it comes to when my but I mean, my son, both my boys know, like, this is not, you're not living here forever. Yeah, no, I know. So that Yeah, the adult children coming back and living at home, for like a span of time and for a reason, I understand, right?

1:17:27Like I'm living at home while I'm going to college.

1:17:29Ken Coleman:A season. That makes sense. Or, you know, you graduate college and you come home and they move in with you, Ken, for three months while they find an apartment and they get a job or all this. Like, right, like there's sense of it. That's fine. But this ongoing, never ending business, I'm not a fan of. And that's what it will become, by the way, when you are the cheapest landlord in the history of landlords. And that's what this is. That's right. What kid's going to want to move on from a couple hundred bucks a month in rent? Totally. I know. I know. Yeah. Yeah. So it's, yeah. I mean, I would have the conversation in six months.

1:17:59I mean, if the son has a great job, even though he's 18, you get to learn to be an adult. I mean, I don't know. I, that's what I would do. So.

1:18:08Ken Coleman:Yeah. Very nice. Of course, we, you know, it's going to be very interesting. You never know where, I've got a college freshman. He've just finished. So he'll be starting his sophomore year. And it's like, it's going to be very interesting to see how all of this shakes out. For him, you mean? Yeah. Yeah. Like after college? You got three kids. I got three kids. Yeah. Like, what is their, like, am I going to have to have the conversation? Oh, right. Totally. Hey, you know, or is it like, I was the kid that I was gone. Yeah. Didn't want to go back. No. You know. Yes. Yes. We didn't have cell phones.

1:18:38Ken Coleman:This is going to date me and it's going to shock you. When I was in college, we didn't have cell phones. Yeah. Didn't exist. I believe it. Yeah. Thank you. We had a dorm phone. Yeah. When I was in college. And so I remember getting a knock on my door one night. and opened the door. Did you like that sound effect? I was going to say, you love your sound effects. And my buddy opens the, I opened the door and my buddy's there. We went to the same high school, but he lived down the hall. And he said, hey, my mom just called me, or I just talked to my mom. And she said that your mom called her and wanted me to tell you, you need to call home.

1:19:11Ken Coleman:I was that kid. I mean, there was no ugliness or anything. I just, once I went to college, I was like. Done. Gone. Yeah. And not every kid's that way. Sure, sure. You know, but I was like, hello world. Yeah, for sure. Yeah, so we'll see how it plays out. Natalie's up in Tulsa, Oklahoma. Natalie, how can we help? Hi, thank you for taking my call. Sure, sure, sure. What's up? So I, my husband and I are on Baby Steps 2. We've been doing really well. We've paid off$7 ,000 this year. Nice. He just recently got a new job that is, he's making twice as much, but it came with some expenses that we knew of, but it's been more expensive than we were planning.

1:19:55So he travels and he works on wind turbines. So as he travels, we have to pay for his hotel and his lodging and his food. And it's turning out to be$1 ,000 or more per week. and he's getting, he gets an amount, like he gets 175 a day, which is like, uh, 850 a week, but it's, it's more than it's costing more than what he's getting to pay for it. And it's getting like, I'm putting, you're not going to like this, but we're putting it on the hotel. And stuff has been on a credit card. Cause we just didn't have, we didn't have the money to pay for the hotels to start with. And so I've been putting like a thousand dollars on the credit card every month and it's just growing.

1:20:44It hasn't, like it'll go down and then it's right back up to either the same thing it was before or a little bit more. And I'm just lost.

1:20:52Ken Coleman:What kind of hotels he's staying at? Um, well, it kind of depends. So right now he's actually in Abilene, Texas and he did find a cheaper one. He's at a super eight right now. And that was super cheap. This is like the cheapest one he's been at. And it's actually below 175. And then before he was in Copal, Texas, and they were like right at that 175 at night. Well, you're not going to like this. But the first thing that pops in my mind, Rachel, is I go back to my days working in Virginia politics. I was young, single, 21, driving all over the state. And I lived out of hotels. And I had a budget that the campaign gave me.

1:21:35Ken Coleman:And I I stayed in some like, you know, stuff that I wouldn't even let Stacy look at. But I was a dude. I'm 21. Right. And it was like I had the budget. And I know that's an extreme situation. However, you know, you gave me one locale and the Super 8 is actually below budget. Then you gave me another locale and you said it was right at the budget. But in this case, he's got what he's got. And so he's going to have to, how shall I say this? if he's going to stay in this job, he's going to have to suck it up and he's going to have to play within the rules. And I think right now it's just not been convenient and you guys are paying for it.

1:22:10Ken Coleman:In other words, you said it was a locale named Coburn or something. I didn't make it out. Go somewhere else. Go 20 minutes away where there's a Motel 6 where the light's not even on, but he's crashing, he's working. It is what it is. And it doesn't make sense because you guys at this rate, it's like$52 ,000 a year in expenses. How much is he making? So he brings in about$6 ,800 a month. I mean, y 'all aren't making a ton then. After these expenses, it's like $2 ,400. It's like$20 ,000 that he's making. This makes no sense. He gets how much a month in expenses? Eight something? So it's about half of his paycheck so if he makes 6 ,800 um 3 ,400 of that is the per diem that's supposed to go towards his hotels and he's he's spending more than that and i do know that it's also it's not just the hotels because of course he's got to eat and so part of that is also like he'll eat out like he doesn't have like he's in a hotel room and so it's not like he doesn't grab sometimes he'll grab like microwavable stuff that's super cheap and then sometimes he'll go to chick-fil-a and spend $20.

1:23:24And it's just like, there's no... Right, but see, here's my point.

1:23:27Ken Coleman:This is the job he has, and this is the compensation. You knew this going in, no surprises, and now he's got to manage it. So you have two options. Option A is when he goes to these little towns, he doesn't go to Chick-fil-A and pay 20 bucks. He goes to the local grocery store, and if he's in this little place, he gets enough food for three days, and it's PB &J and tuna fish sandwich, turkey sandwiches, I mean, this can be done. And so it's not a function of can it be done? I hope you weren't calling to go. Oh, how can it be done? Because it can be done. Or you change jobs. Those are your options.

1:24:07Ken Coleman:But Rachel's right. This job doesn't make sense in its current form. So either he goes, you know what, this is my job. And when I'm on the road, life sucks. Makes me really happy to get home. But my wife and I are going to agree to how many nights away is he? A week. So he's six weeks on and a week off. He's gone for six weeks? Yeah. So me and our two-year-old, we're at home. How is that? Is that sustainable for you guys now? Just from a lifestyle perspective? Six weeks away? Currently, it's weird because he's at a tooling department. He's not actually at a wind turbine. So it's weird timing. But once he goes on an actual job, we'll know like he'll be there for three weeks.

1:24:53So me and my two year old, I work from home. So when he gets set somewhere for like three weeks, I will go and be with him. Oh, then that's more expenses of you guys eating out more and everything. Well, and but we've already done this once. And like I made all the food in the hotel room, like we brought a griddle and we brought a hot spot and it worked out.

1:25:14Ken Coleman:Well, if that works, great. But again, A or B.

1:25:28Ken Coleman:Hey, teachers, your students are stepping into the real world and starting to deal with the money challenges that all grownups face. From making that first paycheck stretch to figuring out how to afford college or trade school, they need real life knowledge and know-how right now. And with foundations and personal finance, your students can learn how to budget, how to save, how to avoid debt, like real-world money skills that last a lifetime. So learn more by going to ramsysolutions.com slash foundations. That's ramsysolutions.com slash foundations.

1:26:12Ken Coleman:This is the Ramsey Show, where America hangs out to have a conversation about their money, their profession, and their relationships. So glad you've joined us. The phone number to jump in is 888-825-5225. 888-825-5225. Alongside Rachel Cruz, I'm Ken Coleman, and we're here to coach you up. Joe is up in Columbia, South Carolina. Joe, how can we help today? Hey, thanks for taking my call. You bet. About 20 years ago, I read Dave's Total Money Makeover, and we got out of debt. Then we started investing in the stock market and timberland here in South Carolina, and things went really well, and we ended up in pretty good shape.

1:26:59My daughter and her husband got married about that same time.

1:27:05Ken Coleman:we gave them$20 ,000 for a down payment on their first home. And then we bought 120 acres and we built a house here. And they decided they wanted to join us. And so we gave them two acres of land. Then about two years later, we gave them another$20 ,000 to help pay down their mortgage. then uh over the years they had 11 children 11 11 so they had an old beat-up van and we wanted to be able to take trips so about three years ago i think we bought them a a brand new uh transit 14 passenger van well i'll get to the point the oldest child our grandson is 19 and he just got married and his wife is 17 and a half and our daughter and her husband wanted us to give them land to build a house on and we said you know what that's a little young owning land is a big responsibility let's wait a couple years well that didn't suit they want to be in control of when and where they give the children land our rule of thumb was when we think they're old enough and responsible enough yeah because you don't want you don't want them to build a home and then in four years when they're 24 they're like oh we want to move out of state and then you're stuck with this other house yeah well Well, they're pretty upset, and even as we speak, they're moving.

1:29:03Your daughter? Yeah, the whole family. Where are they moving to? We're going to have a few neighbors that we don't know right in the middle of our property, and they're moving away. They're not going far, only 11 miles, but they are moving, and they want to be in control. and we created this monster, you know, by giving and giving and giving. No, I don't think that's true. I don't think that's true. I think they could have had that exact same situation and said, Mom and Dad, you guys have been insane to us. We don't expect anything and everything you've given us is beyond anything. And then they have their little chickens and they deal with it.

1:29:50Like the expectation end and the entitlement end. is not because you were generous to them. It's because their character turned sour in the midst of it. Okay, so... I don't think that's your fault. Genuinely. Unless they couldn't have handled it in the first place and y 'all kept giving it to them because they had expectation. But if they were, you know, kids that were very grateful in it and didn't have any expectation, all of this would have been a blessing. It would have been great and they would have honored you and honored your requests. So, I don't know.

1:30:20Ken Coleman:Joe, that was a great setup. What's your question for us? I'm curious. Well, you know, we're thinking we gave too much. I heard what Rachel just said, but we're thinking we gave too much, and I'm 74. And we're really wondering what to do with inheritance. How much are we talking about?

1:30:51well we live off of the interest on our investments but the principles which should

1:30:57Ken Coleman:stay there is around four million dollars okay let me ask you this really quick because we've got a limited amount of time and i want to help you uh is your wife on board is she feeling the same thing that you're feeling are you two in alignment oh yeah absolutely great news okay Okay. So I appreciate properties in both of our names. So, you know, okay. The reason I asked that is I wanted to make sure that you weren't dealing with some of that because what you've got is your daughter is playing a little bit of poker with you. I think it's bad poker, but I think it's poker. And I think you're irritated by the fact that they were pulling up stakes and now the land that you gave them, someone else is going to live there.

1:31:36Ken Coleman:And I get how that rankles you. But I do agree with you that that this particular decision has gone too far. I don't think we need to spend any more time arguing or siding with you as to whether or not it was your fault or not. I think we've got to focus on where we are right now. And so what I would tell you is I was listening to you tell a story and I was just trying not to laugh out loud because the fact that your daughter thinks that she can tell you anything to do with your property is hilarious to me. And I think you've got to hold your position here. And in this situation, if they want to move, they move.

1:32:14Ken Coleman:I think she's playing a little bit of poker. I think the best thing you can do is let them go, even if it's 11 miles. Oh, yeah, they're already gone. Okay, good. So here's the deal. As far as what you want to do with your retirement and your inheritance, you and your wife need to sit down. And I appreciate you calling us. That's not our call. My only answer, and I'll give it to Rachel in a second, my only answer would be you all do with that money what you feel you should do with that money. It should not be about guilt and the fact that she's your only daughter or only child, sounds like, and we got to do this.

1:32:48Ken Coleman:If you feel like it's going to be abused and misused, you get to decide what to do with that. But you're going to have to live with that. and you got to have to understand that once you're gone that they're going to have to live with your decision so you and your wife need to get on the same page together and let's not let outside forces dictate too much do what you think is right rachel i'm curious joe do you guys have any level of relationship with her now or was it well it's not just her the husband is very active into decision making. Of course. And we're still on speaking terms. And as a matter of fact, we're going to counseling to try to work this out.

1:33:27Ken Coleman:Oh, that's good. I'm so glad. You know, I just... Well, you feel like you gave... No, they got a big... Yeah. I mean, yeah. When they got a big inheritance coming, they don't... You know, I don't want the prospect of the money to hurt them any more than what we've already seen. Are they responsible financially, just with their daily finances? Yes. Okay. Well, to Rachel's point, I think Rachel makes a good point. Rachel's right. You didn't spoil her to the point that they're just a train wreck with their finances. It seems like they just— Oh, no. It's just your generosity has become something they're very comfortable with, and so now they're acting out, it sounds like.

1:34:10Ken Coleman:I don't think you and Mom have done a bad job at all, and I don't think you need to be worried about them squandering it, but I think you could get creative with how you do it. Yeah. And the fact that money's created a tension point too, is not, that's not great. So how do we remove that element and heal the relationship to go forward? And maybe it's a thing that like, we're not going to mingle money as much anymore, right? And put the money there. So I'm so sorry, Joe. I hate that your generosity feels taken advantage of in a sense from what you told us. So I'm so sorry.

1:35:00You spend hours researching before making a major purchase like a home or car, but it's also a good idea to put in the work searching for the right insurance coverage. To protect your biggest assets, I recommend using Ramsey Trusted Pros. Whether you're looking for car, home, or any other type of insurance, Ramsey trusted providers have been coached and vetted to serve you like we would. Find what you need at RamseySolutions.com slash insurance.

1:35:48Ken Coleman:All right, when you're tackling debt or building wealth, one of the things that we can do very easily is we forget about one important step in reaching those goals, and that's insurance. Having the right coverage as opposed to too little or too much can obviously impact how long it takes you to get there. And so skimping on insurance might seem like a good idea when you're saving, but then life gets you and you're really, really regretting and you can fall back in the net without that safety net of insurance. So think of the right insurance as a shield around your loved ones in your wallet. So how do you know if you have the right coverage?

1:36:20Ken Coleman:We've got a free coverage checkup. That's what it's called. It's a free online resource, and it's going to create a personalized insurance action plan that's unique to you in your specific situation. So if this is you and you need to make sure you haven't checked your insurance, do I have too much? Do I It takes about five minutes. RamseySolutions.com slash checkup. RamseySolutions.com slash checkup. And you can take that information and make some changes in your life. Matthew is up in St. Louis, Missouri. Matthew, how can we help? hey so um basically my question is how do i continue to support my family and i while also trying to get my real estate wholesaling business up and going well i think it's the wrong question okay so i think the question should be how do i support my family.

1:37:17Ken Coleman:And let's answer that. And then when we get to a place where we've got a really clear answer on how to support my family, then the second question becomes, how can I now ease into a separate venture of real estate? And I'm not trying to be cute in any way, but I really do think that that's the mindset. And my guess is, is you'll understand that if we get a little information from you. So when you set it up that way, what is your current plan for making a living?

1:37:52Real estate wholesaling. Right.

1:37:54Ken Coleman:And how much are you making? Well, we are closing on our first deal next Wednesday. It's going to be$4 ,250 that we received. And I mean, it was all, you know, just paper pushing, getting a property under contract and then selling my position in that contract. So you're wholesaling. Yes. Yes. Interesting. Okay. How much were you making prior to this and what were you doing in that job?

1:38:30so four thousand and one check is a major jump for us um i've never made that much money off of

1:38:40Ken Coleman:one thing in my entire life okay well you didn't answer my question how much did you make a year in your last job and what were you doing um i was a warehouse worker um making minimum wage and i I made like$13 an hour. Okay. Okay. That helps me. And so paint the picture for Rachel and I. What's the transition from warehouse worker to this wholesale? Did you quit your warehouse job? Yes. How long ago?

1:39:14The beginning of June.

1:39:16Ken Coleman:Beginning of June. Okay. And give us an idea. Do you own a home? What's your mortgage? Are you renting? And what is your rent? um we stay with family uh we just you know we pay for you know our portion of the lights and gas and stuff what do we mean family your parents her parents her parents my parents have a apartment downstairs oh there she is kind of like a sorry hi i'm heather um my parents have an apartment downstairs that we kind of ran out, but we pretty much are just paying our part of the utilities. All right. And do we have kids? We have one son. And how old? Eight months. Okay. And Heather, do you work?

1:40:01Oh, we lost her. She said, I don't. Is that right? Right. Okay. You're home, home with the baby.

1:40:09Ken Coleman:Okay. Yes. I do work with him on the business as much as I can. having an eight-month-old is hard. Yeah. Do you guys have any debt? We have a car payment. It's$356 a month. How much do you owe on the car total? Six. $6 ,000? Okay. How long before the next deal? I understand you're going to make$4 ,000-some in a week or so. When is the next check coming?

1:40:47So I go and look at a property tomorrow. Currently, I'm hitting the streets every single day, putting sticky notes out on doors, calling leads. I've got a couple promising leads that I've got to follow up on. We also know their houses are under contract that are waiting for buyers. Correct. So it's just a matter of finding a buyer and then closing on the deal. Yeah. Yeah, my only fear with the wholesale process, it can work if you have a big pipeline, but starting it is tough. And so I get nervous that when there's not a pipeline, you're going to either get desperate in a situation and make a bad call on one of the properties or something without having something else supporting you guys, at least having some money come in.

1:41:40The good thing is your expenses month to month do not sound like a lot. I mean, the fact that you guys don't have rent to pay, but it does make me a little nervous that you guys made this big jump. But yet you're in a position, thankfully, that from a lifestyle perspective, you have a soft landing, if you will.

1:42:00Ken Coleman:Here's what I would have preferred. I would have preferred that you saved up, before you left the warehouse job, I would have preferred that you saved up minimum six months of your income and put it in the bank. I would have really liked 12 months before you go all in on a real estate thing. I've had people call in and ask this question before. They want to be a real estate professional. And to go to win as a real estate agent, you've got to be all in. Yeah, I'm curious. Matthew, what caused you to do the wholesale route? Well, currently, we're both in college. We're going for BSBAs. I'm going for a major in entrepreneurship and corporate innovation.

1:42:44to do what how old are you guys 28 okay i'd stop college right now you got let me tell you why

1:42:54Ken Coleman:um you need to be taking all those hours that you're spending on college and i'm talking to you matthew and you need to be working in the warehouse or even a better job making 20 an hour i don't care what you're doing but for this season like rachel says until you get that pipeline built up, I would press pause on college. That particular degree, that's not going to do much for you, to be completely honest. I'm not poo-pooing it. I'm just saying that can press pause and we can go back to that. You got too many balls up in the air right now. You're living with family. You got a little kid. You're trying a whole new business.

1:43:29Ken Coleman:It's all on you. It's door-to-door, hustle, hustle, hustle. You have never made any money to speak of. And I just think there's too much going on. So I would, if I were you and I had a wife and child, I'd want to get them out of my, of my in-laws house. I'd want to go live on my own and I'd want to have a day job, uh, and then work on this dream job as you can, but you don't have time for this new business idea and college. I don't think, am I being too harsh, Rachel? Um, no, I don't think you're too harsh. I mean, I, Yeah, I mean, the issue with what you're doing real estate wise is, again, you have to have a lot of contacts.

1:44:11I mean, because the wholesale, it's a flip.

1:44:13Ken Coleman:You could go 90, 120 days with no income, Matthew. Yeah. You understand what we're saying? That's what makes me nervous. Right. I don't like that. The thing about the pipeline is, so the city that I live in, I'm actually two and a half hours south of St. Louis. It's just the closest major city. but my city has a registered landlord's list. I've went through the entire list. I've contacted every single person. I have a very extensive buyer's list that I actually... Yeah. I mean, you could keep hustling it for sure. I'd have a backup plan. But I would just have that backup plan to make sure you have some income coming in in case something dries up in the real estate market.

1:44:56It's kind of up and down, a little fickle. But yeah, I just like a safety net of knowing that there's a paycheck coming in. And it may not be the dream job, but at least we have that until this other venture really starts picking up. So that's what I would do.

1:45:34Ken Coleman:I was sick and tired of being sick and tired. Bankrupt with a toddler and a brand new baby at home. Scared doesn't even begin to cover it. But I got mad enough to change. I started using God's and grandma's ways of handling money. That journey became the total money makeover. A plan everyday people can use to take control of their money. Millions have changed their lives following the plan in this book and found hope. Start your makeover today at RamseySolutions.com slash store.

1:46:21Ken Coleman:Michael's up next in Seattle, Washington. Michael, how can we help today? hi hi thank you so much for having me on the show sure so my question is my grandparents are reaching the last stage of their life and they're getting their you're getting their affairs in order the will and everything like that and they want to leave the house to both my cousin and i i don't want to live in the house but my cousin does i'm wondering if they leave the house to me and my name, but my cousin lives in it, how will that affect me? I just, I don't want to set myself up for a bad scenario. Yeah. Cause if he doesn't pay taxes or something, it all goes back to you.

1:47:05I mean, you would be responsible for everything that he does. So I wouldn't do that. I'd have him buy you out. Are you both going to be on the deed? Are they putting both of you? So we, that's, that's the other thing is my cousin, she's diabetic and she might need like state assistance with her medication and everything like that. So they want to leave the house just to me, but my cousin wants to live in it. Well, then she just needs to buy it from you. Yeah, well, she's currently 17. Oh. So I don't know if she's going to have the money for that. No, no, she won't.

1:47:37Ken Coleman:Well, then why don't you just take the house and sell it? You don't want to live in it, so take it from them and then sell it. Because the 17-year-old thinks she wants to live in it. So it's a conversation with her, Michael. So here's the deal. I would not base a major asset on a 17-year-old's thinking that they want to live here because she's going to go off to college and, you know, meet, so I don't know, whatever, live her life. And you have waited four or five years for her to come back to buy this house down the road. Well, here's what I'm confused about. The way you set it up, Michael, you told us that the grandparents want to leave it to both of you.

1:48:15Ken Coleman:but now what you've told us is they're actually going to put it in your name. So the reason I'm bringing that up is have they promised her that she gets to live in it? So she told them that she wants to live in it. They haven't really made like an exact, I guess, a promise, but we both wanted to keep the house and the family because I guess it's just nostalgia. I know it's a bad reason, but... Not necessarily. Nostalgia is not a bad reason as long as you manage it well. So that's what I'm trying to understand here is what are the expectations? Because the way you let out, it was they want to leave the house to us.

1:48:52Ken Coleman:And so I'm getting a strong feeling that she's expecting to live in this because of the way it's been communicated to both of you from the grandparents. Is that true? Yeah. All right. Now we got it. OK. The reason I'm bringing that up is, Rachel, that gets to a much stickier situation now. Is the house paid for, Michael? The house is fully paid for, yes. Oh, so the only thing you would have to take care of is upkeep and utilities. Yes, and I discussed this with my cousin that I wouldn't have an issue with her living here as long as she was able to keep up on the property. It's about an acre, and it's a three-story house, though.

1:49:32It's a lot of cleaning and a lot of maintenance, and I don't think she understands really the upkeep cost of an older house like this.

1:49:38Ken Coleman:So then that's on you. she's 17 on me how old are you yeah 21 all right both of your frontal lobes aren't even done developing and i'm not saying that in an unkind way but you're gonna have to over explain this to a 17 year old no she doesn't get it that's like that's that's a curse like you do not need to know a 17 year old even when she doesn't i'm with you yeah but i'm just telling him i'm addressing what he just said we have a communication problem she doesn't get what it's going to take to take care of a three-story, one-acre deal. You mentioned the fact that she's got diabetes. You didn't do that just to throw it out there.

1:50:13Ken Coleman:That means she's got some health complications with that. So that adds to this deal. So her being 17, physical issues, I'm with Rachel. This is a no-go and you're going to have to break her heart and you're going to maybe have to sit down with grandma and grandpa and have them help communicate this. Because it's unfair for you to But to hold all this weight and responsibility and holding out on something for a 17-year-old to make a decision later. Where are your parents in all of this? Where are her parents? Yes, and yours. My parents, I guess they don't really know much about this scenario. They're separated and they live very far away from each other.

1:50:52And her parents, they don't want the house. They think it's too much house. And they have no issue with her having the house. But I don't think they understand all the responsibility that goes into managing this much property either.

1:51:04Ken Coleman:Now, you got some checked out parents on both sides. So Rachel's right. I think this is a curse. So, Rachel, how do you handle this? You sit down, put yourself in his position. You're going to go talk to the grandparents. What are you saying? I mean, I feel like it sounds heartless. But honestly, I mean, once they pass, if they leave you this asset, Michael, and I would want to be very clear of what their expectations are for her. because if they want her to be part owner, but they're not putting her on the deed for some reason, then in good faith, you would sell the home, you would split the proceeds 50-50, and you both get a great inheritance out of it, and you go live your lives, and you go buy a house that you wanna buy later in life.

1:51:42But if the deed is in your name, and she then is going to somehow live there, that's not good for her later because she's not building equity in anything. And then also it's a risk on your end because your name's on the deed, And if she doesn't pay taxes and upkeep, like what you're saying, then you get a demolished property, you know, four years later or whatever. It just nothing really ends up well unless, Michael, you said my grandparents are giving me their house. I love their house. I love this house. It's where I've wanted to live and raise my kids forever and ever. And it's great. Your name's on the deed.

1:52:16You get the house and everything's great. But it's this entanglement of another person who's not even of age to go buy cigarettes. You know, like she's not even 18.

1:52:28Ken Coleman:I love your play. And it's unfair for her to Michael, because life changes. And for her to feel then this responsibility of having to go back to Seattle if she goes off somewhere for school, because her cousin has the grandparents who passed home and she said she was going to. I don't know. How much is the house worth? I'm actually not sure. So the house isn't actually in Seattle. It's in a small town in eastern Washington. and it's probably worth about$400 ,000, maybe$350 ,000. Okay, let's play Rachel's idea out, okay? Don't you think you could sell the vision to grandparents and to your cousin?

1:53:04Ken Coleman:Let's say it's worth$400 ,000, and Rachel's good faith idea I thought was great, $200 ,000 to you,$200 ,000 to her, and we go our separate ways. What a wonderful heritage that is for both of you young people. How does that sit with you? well i i mean i think deep down i know that is the right decision to make because i don't know that she'd be able to keep up with all this property and i know that i i really do love this house and i love this property and i i have a lot of great memories here but i just don't want to live in this town i get it at the end of the day that's great i feel the same way about my grandparents house i mean i i 100 so go take a bunch of pictures of it do some video yeah make some memories, put it in a box, sell the house, man.

1:53:52Yeah. I think that would be the right choice. I do too. Well, she doesn't have much to say because her name's not on the deed of the home.

1:54:01Ken Coleman:Yeah, this is you and Mama, Mama, Mama, Papal, whatever their names are. Everybody's got different names. Mama and Papal. I'm struggling here. I don't know why I got off on those vows like I did. Because also, Michael, yes, not only is the upkeep and everything for her, but her being handcuffed to a property, I don't like that for her. She needs to go and live her life. Michael, you've told us twice in this call she can't handle it. She can't handle it. No, she's 17. I'm not certain that she can't handle it. Yeah, you are. And I know that she'll also be older when, I mean, they're not knocking on Deb's door or anything.

1:54:36I thought you just said at the beginning of this that they're about to die. Oh, they're not like about to die. I like that morbid. It wasn't quite. Rachel's burying them right now. Oh my goodness.

1:54:49Ken Coleman:They're vibrant. They walk three miles every day.

1:54:55Ken Coleman:God bless them. They're fine. Here's the deal. My grandpa probably has a year and a half. My grandma doesn't show up more than five. There's nothing on fire. Let some stuff play out. Time will tell as well. She may turn 18, 19, and she may fall in love. I don't know. Time will tell. Michael, I think you're waffling here. I don't like it. you know what you should do you got to go talk to mamaw and papa and nothing has to be stressed right now to your point like i don't know yeah god bless the grandparents they're doing well rachel

1:55:29i'm so sorry these are tough these are tough i know sometimes you get in these casual moments

1:55:33Ken Coleman:and you kind of forget that you're like well he did say i did get the impression they might be he started the call made it feel like yeah well he did say his grandfather's got a year and a half So, I mean, that's not a whole lot of time. That was later in the call, though, Ken. No, I know. I'm saying to your point, I'm bailing you out. Okay, thank you. I can see how you got there. You've got a big heart. You love old people. Nobody questions that.

1:56:23Ken Coleman:Our scripture of the day comes from Ecclesiastes 5 verse 5. It is better that you should not vow than that you should vow and not pay. And our quote from Sam Ewing. Inflation is when you pay$15 for the$10 haircut you used to get for$5 when you had hair. So there you go. There's a little mental gymnastics there. Felt like we should have saved that one for when Dave was here. I, on the other hand, got quite the frock up here, or as the kids call it, lettuce. Have you heard this? What? No. So I play pickleball every Wednesday night, and there's a bunch of 20-something guys in this, and I wear a headband.

1:57:02Yeah, you do.

1:57:03Ken Coleman:for functionality i love it because this this stuff right here gets wet and floppy gets in my eyes and so i'll walk out and they're always saying stuff like oh look at the lettuce on that guy yeah i know i kind of like it's all this gen z verbiage i'm trying my best i can't keep up with i can't either i ask my kids to do something they'll go bet have you heard that one no yeah like hey son can you do this bet i guess that means yes i guess that's good i'm always guessing i don't know i said chuggy the other day in a meeting don't even know what that and all the gen z girls were like that's out and i was like oh wait a second let's pause for just a second what is i learned this word and apparently it's done so it's like uh something that used to be cool like 10 15 years ago and it's not anymore so it's like fashion or something and you see someone you're like and it's kind of chuggy like and so you used and then i used it thinking i was like part of the girls they all looked and i yeah and apparently choogy is choogy yeah that's it that's it so i'm catching on james i still got a little bit left in the dad brain all right chad is up in ann arbor michigan chad how can we help hey guys thanks for taking the call sure uh so i have a uh a debt question for you guys um my wife and i have about 180 000 in debt right now, and we are trying to figure out the best approach and what to tackle first in order to get this paid down as soon as possible.

1:58:32What's the$180? It is about$110 in student loans. My wife has a master's in OT, so about$100 is from that, and then 10 is mine from a bachelor's degree in mechanical engineering. And then there's about 55 in medical debt and personal loans that we were very fortunate for a relative to be able to pay for that rather than us having to go through a bank. Two years back, my wife was diagnosed with brain cancer. So we had to ask some, well, not ask, but we were fortunate for them to offer to pay for that. So we didn't have to go through the bank. So that's interest free, which is very nice. Is that the 55 you're talking about?

1:59:22Yep. Yep. That's the 55. And then the rest of it, 14 is in a car payment. Okay. How's she doing? She's good. Remission as of almost, almost two years now. Yeah. We were very fortunate. Gosh, thank God. Oh, is she, what's she making in her job? she's an occupational therapist she makes about 85k okay and what do you make about 125 uh ote 50 of it is bonus okay wow that's great um great salary so we can do some damage here for sure um yeah i mean the way we talk about getting out of debt is just smallest debt to largest debt and so for you guys the car will be the first thing you'll tackle and it's regardless of interest rates.

2:00:13And so even though the 55 is interest-free and interest is starting to kick in on the student loans, I know soon, but I would still keep that in the middle. So I would just, yep, I would pay off the car. How much margin do you guys have a month if you were to do a really, really, really strict budget and lived on nothing? Yeah, so if we do a really strict budget right now, the way that I have it broken down is without the bonuses, we're planning on throwing every single dollar of that that comes in over the next few years into it. So without that, we bring in about$8 ,200. I'm putting 15 % into my 401k.

2:00:49I would assume that you guys would probably say to back that off. Yep, pause that. Okay, so we'll back that off. Total after taxes,$8 ,200 a month. After all of our expenses, we're currently paying$500 to the relative,$500 to the car. and then after that we've got about$3 ,400. Okay, how much would be in that retirement if you were to plug that back in? If that was back in your paycheck, how much extra would that be a month? I think it's around$50, something like that.

2:01:22Ken Coleman:How much you broke up? About$450. $450, okay, that's amazing. So you guys will have close to$4 ,000 per month to throw at this debt. and that's not including they're putting 500 towards the medical debt to family so if you were to do it the way we teach which is everything goes at the car yeah you could now you're actually 14 in savings oh hello well that's telling what we do with that well what would we do can we pay that so we take 13 000 out of that because we teach the baby steps are you familiar with baby step one, which is a thousand dollars in savings for an emergency. So it's going to scare you all to death.

2:02:06Ken Coleman:This is, but if you've got 14, here's how we teach it. You'd take 13 tonight. Okay. And you pay off, you pay it towards the car. Um, and that's going to leave you with a thousand left on the car. And then the next month, you're not going to pay the family 500. You're going to take an ass. Cause we do say pay minimum payments on everything, but since it's just the family i don't know if that's i don't know if that 500 is covering their if it's their minimum requirement was it their cash or are did they take a loan in their name no it was their cash okay um they were able to stack up some money throughout their lifetime well if you pay a good spot to help gotcha gotcha well yeah i mean you'll pay off the car you guys i mean in the next month the car's gone yeah for sure so that's done and then be working out towards that medical debt.

2:02:54And then, I mean, within, you know, 12 months or so, you got 14 months, you'll have that paid off, which is incredible. And then another probably two years on that student loan. And I would, do you guys have kids? No, but that's something that we're, we're wanting to get our finances in order here before that.

2:03:14Ken Coleman:Okay. You know, we definitely do, we definitely want to buy a house and everything, but you know, we're trying to kids for this. If you guys want kids go to have kids people have kids all the time while they do baby step two or yeah oh my wife will love to hear that yeah i mean people george camel i always laugh because he's always the one george is always like i mean it's just really nice when you don't have any debt no kid and i'm like but also yeah you look you look 10 years down the road you're like i wish we had started early you know so george doesn't even buy himself anything nice so i know it's very cheap so people have other opinions but i would always say get married have kids live your life and then bring your money journey along with that.

2:03:52So I'll throw that out there, but you guys decide that. But yeah, I mean, I would make it a goal, Chad, to be really aggressive, but in three years, see if you guys can pay this off. And if I'm asking if you guys have kids, because you don't right now. So I would be working both of you over time because you could take this three years down to easily two and a half, two years and three months. I mean, I mean, and then maybe you get a raise too in the midst of all of this. I mean, you could really be aggressive on this.

2:04:16Ken Coleman:What's the car payment? Car payment's$370, but we've been paying$500 on it. I know, but my point is you're getting a raise on that too, so you're just going to roll that in. Oh, that's true. Yeah. So I'm just telling you, you've got well over$4 ,000. You've got a bit over$4 ,000 of discretionary income, which there's no discretion. It's all going towards the debt. But man, that's a really good sledgehammer, and you guys are going to see tremendous momentum. I'll tell you what, When you see that medical debt dip below$20 ,000, I just got a sense. And I'm making the$20 ,000 up arbitrarily. But somewhere in there, you guys, because Rachel and I have done enough debt-free screams, somewhere after you've paid the car off and you've made a pretty big chunk on that personal loan on medical, given the circumstances around that, it was scary.

2:05:09Ken Coleman:You want it out. You want it done. You're going to feel great. You guys are going to get to experience some severe momentum. It's a fun thing. Yeah, but get that momentum started, Chad, with honestly paying off this car in the next month. And I know it's scary going down to$1 ,000. And if something happens in the middle of it, if you guys get pregnant, you can pause this. You guys can cash flow any emergency. That's right. You guys have a great income. And so do it. Because you guys need a little spark in all of this. Like if you guys are starting this off, this is like a boom. Like the fact that you have a paid off car in the driveway next month, that's crazy.

2:05:38That's crazy. So I would do that immediately.

2:05:40Ken Coleman:Move some money around. I bet you could pay this car off tonight, couldn't you? Definitely, yeah. I'd pay it off tonight. Surprise the wife. Don't surprise me. No, no. Say, babe, I paid the car off. No, tell her. Let's pay the car off together. That's a fun surprise. She may kill him. I don't know. Well, the car's paying off. But do it, Chad. Do it. Oh, thank you, guys.

2:06:12We'll be right back.