Just Bought a House but Now I Don’t Have Any Money 

Buys a house with no plan, no furniture, moves boyfriend into new house, expects him to conduct himself like a husband with no commitment of marriage. A disaster is on the horizon..🤦🏾‍♀️🤦🏾‍♀️🤦🏾‍♀️

The more I watch Daves show, the more I realise how many people really have no plans for anything….

Dave handled the caller masterfully. He gave her a to-do list of concrete tasks within a budget and a timeline and left her with an emergency fund. Good job, Dave!

They call it being house poor for a reason.

Can someone please explain to me WHY THE HELL would you buy a $330K house with no fridge or stove and didn't think about a couch and a bed??

Do not depend on a boyfriend for anything!!! If he leaves you, he might say HE paid for furniture, appliances, etc. Take you to court. Live single till marriage. If marrying, sit with a counselor to discuss finances, goals, division of chores, families, etc BEFORE marrying.

Another option for appliances is "scratch & dent" appliance outlets. The appliances are brand new, but have some aesthetic issues, often very minor.

Regarding the women getting furniture and appliances, the woman should go to a Habitat for Humanity resale store. My wealthy aunt just moved from Texas to Ohio and sold everything before moving. When she got her new home, she went to a Habitat store and furnished her whole house, with some designer pieces included, for $800. She actually made money on her move.

Dave is right. There's no need to drop $20k on new furniture. I recently furnished a newly purchased home with "used" furniture that only cost me in total, $3200 ! In my area, a lot of older people took advantage of the housing market and down sized. They were unable to take all of their furniture so, I was there to snatch it up. I got a king sized bedroom set, 2 queen sized bedroom sets, a full sized bedroom set, kitchen set, living room set, and rattan indoor/outdoor furniture for the all season room for a total of $3200.

Best advice. Tell boy friend to get his own place.

“Shack up with him” Dave is brutal😀

Jade has really grown into her role. She has become an excellent host with solid advice.

Thrift shops, garage sales, and Facebook Marketplace will become your new best friends!

What this woman is actually doing is calling in to get permission to spend 20k on furniture. Anyone who was serious can spend 5k or under to furnish their entire house.

Making ~70k a year with a 330k house is insane Bed on Amazon is $300, mattress another $300, washer and dryer about 800-1k, fridge is like another $800, couch on Amazon or wayfair is $600-1k. She can do it under $5k

She can get a new bed, washer and dryer, and kitchen appliances for under 5K....

Actually, we know that there are plenty of people who wouldn’t have that $20,000 left over after the closing on a home. Glad that she does and called in and was told not to blow that on furniture. Facebook marketplace has great things on it. If she is going to let her boyfriend move in, she should just charge him market rent for room rentals in the area and give him a lease.

I love that Jade out-Daved Dave on this one and went right to air mattress on the floor until she can cash flow the upgrade. I did the same when my wife and I moved into a house, although it was a foam camping mattress instead of an air mattress. Then we slowly got everything for the house over the next year or so from garage sales and auctions, I’m probably less than $1500 into furniture for the 2200 sqf house that’s fully furnished now.

Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing with $150k and in the first 2 months, my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and get more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.

“That’s MY mustard” I just love how Dave gets his point across 😂 So many good lessons. Thank you Ramsey!

She is in living large mode. She is not going to move into her dream home and furnish it like a dorm room. I can just hear the boyfriend/roommate saying you can buy this and that. You can afford it.

She is worried about the guy paying a "fair" amount because he is going to "help her pay the mortage" Not really. Get a lease for the boyfriend.

I got a beautiful living room set that a family in the service had in their second living room, they remarked that they never even got to use it before they had to move. $375 for a perfect couch, loveseat, and coffee table. Great deals are everywhere, you just need to know where to look.

People who buy houses absolutely must save money because when something goes wrong it’s always going to be expensive. I bought my second house in 2018 and sure enough during the summer of 2020 my oil tank sprung a leak requiring me to spend a total of $5000 getting a new oil tank installed and the old oil tank removed. A few weeks ago, my sump pump died and my basement bathroom didn't work. $500 pump + $500 labor for a total of $1000... just to make my bathroom work. I pay it.

A bed and a refrigerator is really the only things she will need right away. The rest of the appliances and furniture can just get added later on.

I bought a pretty comfortable mattress for $155 on Amazon, another $15 gets you some sheets and $20 for 2 pillows. You can probably hold off on getting the bed frame. A small used fridge shouldn't be too expensive. Those would be my first 2 things.

Finally, a legit and real-world call

Girl if you don’t find some cheap appliances. Get an $800 bed or something. She can definitely find all of this for under 5k. She doesn’t have any other debt so she’s doing better than many !!

This woman is a teenager playing Sims in real life.🤣🤣🤣

I said it b4 Jade said it, get a damn air mattress and a college size fridge. The problem with most of us, we purchase stuff to impress others, not because they're needed. There is no rush in furnishing your home. Take your time. Stoppp worrying about what others will say.

Dave did a wonderful job answering her questions; I love Jade and love the air mattress suggestion.

I did this myself but I knew what I was getting myself into. I was ok to be for a couple of months on an air mattress. My lease was up and an opportunity came and I was on a very tight budget. If you know what you’re doing YOU WILL RECOVER! Just don’t expect luxury or getting everything at once.

She should be able to furnish the house for less than 10k. Just got to look for deals or shop at 2nd hand stores. That would leave her 10k left for emergencies. Then build back that emergency fund ASAP

You could always go to Goodwill… when I first moved out, my husband and I had $450. We brought a small bar fridge, bed, a couple of chairs, chest of drawers and a desk from Goodwill. A neighbour saw us move in, and came over a few days later, and introduced herself. She said that she saw us move in, and she could give us an old TV, the neighbour next to her had another item they were willing to give us, friends of hers had items…. It was so heartfelt and heartwarming.

I always slowly get my homes together when I move. It takes me years to feel “finished”! But I never end up in debt and I take my time getting to know my new space and how I most like to use it and move within it, so it ends up suiting me perfectly every time.

Jade nailed this. Dave is obviously my favorite host, but Jade and George are not afraid to jump in and give their own advice and that makes them my favorite co. hosts (Rachel does it too, but she has the Dave's daughter card).

Craigslist, boxes covered with sheets for tables. Mattress on floor until you buy stuff item by item. Cooler until you find a used fridge. It can be done.

When I bought my house ($225000 fha loan) specifically for a fridge I bought $150 mini fridge and roughed it for a while. Unfortunately it is slow and methodical. I bought everything at a major second hand discount and throughout the years I’ve bought nicer things to replace them (recliners, tv, tv stands)

We negotiated with our first home purchase the sellers leave all appliances, including washer and dryer. We are still using those same appliances 12 years, and 2 homes later! Used appliances can be a great way to cut expenses!

Really Dave, $5,000 on a bed and mattress? Wow… our $400 mattress from Costco does just fine thanks

Why pay 18% down? Either pay the 20% to avoid PMI or pay less down. That will leave you more nest egg. She really is not in that bad shape with the numbers.

Also, she should have him sign something that it is legally only her house or he could sue her later on for common law spouse home ownership.

When you can only afford a $250k house, but you REALLY want the $330k one

The effects of the downturn are beginning to sink in. People are being impacted by the long-term decline in property prices and the housing market. I recently sold my house in the Sacramento area, and I want to invest my lump-sum profit in the stock market before prices start to rise again. Is now the right moment to buy or not?

“I decided to go on a road trip vacation and ran out of gas halfway, now I’m FORCED to use debt to buy gas so that I’m not stranded”

I furnished my home little by little and actually it was a fun journey. She’ll be ok.

Average home price is $400k. Best interest rate is between 7%-8%. To buy an AVERAGE HOME on a 15 year fixed with 20% down payment you will need $80k cash PLUS 2%-3% in closing costs. To follow the 25% take home pay you will need a GROSS YEARLY SALARY of at least $200k which is less than 10% of the population. That’s right folks….”by 2030 you will own nothing and be happy”.

I really appreciate and respect Dave for encouraging Godly principles into his financial advice. I admit when she mentioned her bf moving in, I was thinking “hmmm I wonder how he’s gonna answer this ?”. And he gave her the truth in love. May God continue to bless Ramsey Solutions, to bless others!

I got a used washer dryer off Craigslist for $250 installed, fridge $150 couch was free. Just because you need something doesn’t mean it has to be brand new, everything still works btw, years later.

8:27 - I would've gone w/ Jade's idea! I live in a 3-bedroom 2-bathroom condo alone (20-yr fixed mortgage), and I love my mini-fridge and mini-freezer (easy to transport and lower electric bills)! Air mattresses are better these days, and I had one in the "guest bedroom" for a while. 👍

Been listening for years. I can’t even remember the show without Jade. She is a solid addition to the team. 💪

I did that. Lived out of a cooler, electric kettle, or crock pot for 3 months and slept on a cot I bought at a yard sale. Craigslisted the rest. It's doable just nerve-wracking.

Congratulations on buying your house. That’s no small feat. Everything is going to cost more than you planned the first couple of years so be frugal and prioritize. You don’t need everything day 1. Shop the sales and get a fridge, stove a frame and a mattress. Don’t get high end you can upgrade later. Shop moms basement she probably has some extra dishes and pans.

I totally agree with Jade. Get the air mattress and save for the appliances as you go along. Also people need to stop this shacking up business. You are giving spouse benefits without being a spouse. It reduces the impetus for taking your relationship to the next step

I agreed with Dr. Dave on the challenges of moving in with a partner. It's tough when someone benefits from your hard work without sharing the struggle. Relationships are fine, but be wary of people taking advantage later on, especially if they haven't contributed anything.

I bought my first house at 26, after closing I had $200 to my name, I had to buy a cheap fridge, but got the washer and dryer included in the sale price. All of my furniture was from garage sales or off Craigslist

Jade is such a great addition to this show

"Get an air mattress and stop playin." Jade rocks!

“Shacking up” 😂

Had an air mattress for almost two years, until one of my cats clawed it. I actually tried patching it up, but it was never the same.

I use credit card from Home Depot, in which I know Dave doesn't like. I bought and financed a stove and a refrigerator. I got 12 and 18 months respectively. I divided the stove and refrigerator by how much i owned. I paid it all of within the time allocated, if not before the allocated time. So, my stove was $1,100 and I divided the $1,100 by 18 months. So, all my appliances without any interest payments.

please do not involve your bf ,just keep the house to yourself if your not married, if your not married if it doesn't work out he will take you to court and try to sue

People get rid of refrigerators, washing machines, and furniture all the time. Not only Dave’s garage sale idea, but also things like Facebook marketplace exist today. She had better make good friends with someone with a pickup truck and pay them with a couple beers. Another option (which I did) is install a 1500 pound tow hitch on the Honda accord and rent an open u-haul trailer for $15 for the day.

Facebook marketplace can help you furnish it cheap. Time to pick up a part time job.

I feared a housing crash due to people buying homes above asking prices with little equity. If prices drop, affordability and potential foreclosures may arise, worsened by future layoffs and rising living costs. I want to invest more than $300k, but I'm not sure on how to mitigate risk.

The definition of house rich and cash poor.

I was in a similar situation. I bought a new mattress and a new dented refrigerator, washer and dryer and everything else used like a bed, tv entertainment center, couch, tv dining table etc for $2500. And I never needed to change as well.

I moved into my house three years ago. Although it passed the inspection, many things were barely functional: roof, electrical, heating, plumbing, dryer, AC and a partidge in a large, dying pine tree. I've paid for all repairs in cash since then, one item at a time and I've definitely turned a corner. Still, items pop up. I've deferred big renovations like redoing the kitchen and bathrooms to another time.

I rent a room for $700 a month and my faux kitchen has an electric double hotplate I just plug in to an outlet. Been saving money however I can. It works well for my teen and I.

When we bought our 5 bedroom house from a two bedroom apartment, we left 3 rooms unfinished for about a year. Bought gently used furniture. Our main expenses were Fridge, washer and dryer and one can get amazing deals on those all the time. A simple excellent Fridge without any frills is cheap and same goes for a good washer and dryer without all fancy features.

Thrift stores on the rich side of town can have amazing furniture too. Too bad they don't have half price days like they do for clothes. I wanted a phone table and found one in a cul de sac trash curb side for free. I put that it my car so fast my head was spinning. LOL.

Everyone who told me and my wife to wait before buying a house bc house prices will fall/crash. We’ve officially been priced out of the housing market in our area. A 3 bedroom semi detached house on average costs upwards of 350k. Do you suggest I hold from buying or do stocks for now?

2nd hand stores for the win. We've been fortunate in life but we still shop at 2nd hand stores. Not for everything last little thing, but for most things. Just bought a new set of dishes there in fact. Nice mid 20th century restaurant ware. ~60 years old and just like new. Total cost, about 40 bucks and that included a "keep the change" donation of about 8 bucks.

Brand new ref is 800 dollars stove with oven is 500 at Best Buy brand is GE

I bought a $550 refrigerator at Home Depot to put in my rental. It works great.

Its crazy to buy furniture brand new if you're starting out. I furnished my home with all used furniture and a few new items (mattress, cheap cube shelfs) but i was able to get solid wood furniture used that still has many years of life left in it and i didnt have to drain my bank account for it. And i certainly didnt furnish my home overnight. It took a good few months to get enough pieces for my home to function properly. All together i spent about $2,000 to furnish my entire home and that was over the span of 5 years to get to the point that we dont need any more furniture at all, unless something catastrophically fails then i'll be searching marketplace for a replacement

In the current economic climate, a home is not the best investment. I've recently sold my Bay area home, but I want to invest roughly $200,000 in stocks since I've heard that even in challenging times, investors may turn a profit. Any excellent ideas for stocks?

Times has changed Dave people live together for years now it’s the best way to really get to know someone.

Not the worst situation. You can always furnish a home slow. Stove, refrigerator and a bed are all you need to get started.

Housing affordability is at all time lows and will continue to get worse.

She didn’t have to put so much down. Didn’t even eliminate PMI.

With my 3.1% interest rate and as much money as I put down on my mortgage to get a low monthly house note - I could cash-flow my remodel. I slowly and methodically re-modeled my kitchen cash-flowing everything. I used the beat up fridge that came with the house until I could get my monster built-in fridge which is the statement piece. I love my fridge now but I had to wait until I had the dough to buy it.

Yup! Facebook marketplace have many household items . Fridge, furniture etc. I am with Dave, mattress new.

This is me with my 3k monthly payment. However, i feel more motivated than ever to grind!

This situation was manageable till she mentioned the live-in BF. 🤦🙄

You can get all that with under 3k. She’ll be ok. Go cheap at Home Depot and a mattress store. Upgrade as you make the money.

Its pretty normal to have limited cash after purchasing a house. Its the biggest purchase you will ever make in your life, after all. I know when we bought a house, we had like 12K left in the bank. HOWEVER, it is also your responsibility to assess what you will need to buy/do after you purchase. If you cannot manage the other urgent expenses (furniture, reno etc), then you cannot afford the house.

First called needs to know that property tax and insurance will always be going up. She needs to look ahead. Owning a house is never ending expense.

I just bought my first home last year for around $250,000. I needed to spend less than 10k for furniture and appliances. The home came with a stove and microwave already but the majority of other items I still had to pay for or find. My washer and dryer were a used set and cost under $500 while retailing for 1k+. My fridge was a modern and well built used unit for $800. The fridge retails for 2k+. So far I have yet to need any repairs for my used appliances either. I also got a lot of other well built used furniture online and from other family/friends. Getting furniture and appliances is only as expensive as you make it. Just do some shopping and ask family/friends for help. You can find a lot of great deals and move for cheap. Furniture and appliances feel like cars to me. They depreciate like a rock. Best to save money and only buy what you truly need or feel uncomfortable with being used such as beds, at least for me.

Why would you max out your budget to the point where you can’t even buy an oven? My dad said he has seen many new neighbors move in that can’t afford to buy a snow blower (in Minnesota). These are half a million dollar houses.

Good advice!

She went from renting a room to buying a house?! She could’ve bought a one or even 2 bedroom condo for a fraction and that would’ve still been a major upgrade.

No one ever forces anybody or put a gun on someones head to make the purchase. This is purely a hard lesson learned. Champagne taste in a beer budget. Normal behavior in America.

I am so grateful that I found your channel several years back and have applied your financial principles in my life. I am closing on a house in two days, and I applied the 25% income rule to the house. All of my living expenses with the house equals 40% of my monthly pay, take home pay after taxes (mortgage, gas, electric, water, trash, internet, taxes, insurance, etc). It took me six years to save for my 20% down payment and I am purchasing a house, in a nice neighborhood, well below my means. I am getting a bit of anxiety just listening to the lady's story.

Long time HUGE fan! Dave is kind, not sweet. But kind. He comes off strong but can because he has proven to be kind. Jade. She doesn’t have that reputation yet. Girl needs a little empathy and to slow her roll if she wants the fans and respect that the other personalities have.

here's an idea, don't buy a house with no plan!

We literally just bought a couch, bed frame, kitchen table, 3 rugs, and some odds and ends brand new for $2,000 from Wayfair… what the hell is she on about needing $5,000 for a mattress and frame?

YES! Thrift store furniture, laundromat, hand-me-downs, garage sales.

Great advice, thats how I did it when we bought appartment and had no money left.

This is why when I know someone is planning on buying a house I tell them to make sure to have an extra $5,000 to put into it. When my wife and I bought our house we had to buy a lawn mower, fix a couple things, law equipment, and etc.