The Ramsey Show (REPLAY for December 27, 2023) 

Congrats on the success

Dang!

Wow!! Such an amazing story! I am also about to pay a car in cash this year, and will buy a land of my own soon too I hope. It is possible, but you need to be responsible of your own life.

Awesome. That's so refreshing to see a young person being sensible rather than engaging in relentless consumerism

Is she single

I was spending about $800

Ny daughter is spending $325 a week trying to eat healthy

​@@jamaicaninthekitchen4358its not that hard or expensive to eat healthy. Vegetables and whole grains are cheap. Prepackaged "health food" is not healthy.

How does a single person budget for food? It’s not easy. Everything in this society is geared for couples and families.

@@Instkarma9765 Keep all of your receipts of things you buy to get a good idea of what you’re spending on. If you keep finding yourself scraping by, you have to decide what you really need in your life. Like we can’t shop at Publix. It’s too expensive for everything. I shop almost everything at Aldi. And we don’t buy a ton of snack food. I make a lot of our food (I’m a stay at home wife/mama so I understand not everyone can do this). You tell your money where you want it to go. ❤️

Where the paid off mortgage has replaced the BMW as the status symbol of choice.

​@@mechanicallycreative9788having an owned place TO LIVE is hardly a status symbol like a BMW is 😂

​@@melissaford8807 no....just no

@@melissaford8807bmws are awful cars to invest in. They’re flashy but the repairs and maintenance is insane. Any time I see someone with a bmw makes me feel sad for them.

There should be a book of “Dave-isms” because he seriously has some beauties 😂

Also, I have to disagree with Dave on his comment to the pastor who wanted to live an ostentatious life. Christ was an itinerant preacher, not a high priest in the temple. The celibate, dutiful priest is his example. Not the prosperity huckster with a European car and a mansion.

😂😂😂

Then don't look at it

Sorry, Allen, but you need bigger problems to give you some Perspective 🤔

I agree I also don't like that blue color background. I like green I think it brings out the color of his eyes and it's the color of money. We can also call him the rich green Go. 😂

@bookwormonabudget6045😂

Anonymously

Yes. You just won’t be able to deduct interest paid on a loan after it’s paid off.

Make sure you have shelter, food, water, basic necessities, and pay off debt!

Child support is the right of the child, parents can't sign it away. It's determined by a fixed formula in most or probably all states based on how much custody each parent has and what their incomes and other obligations (i.e. other kids) are. State doesn't want to end up giving support to a parent because they gave up child support from the other.

Disagree, you can learn it all in the Bible including financial lessons. We should all strive to be wealthy so we can give more. The poor have a tendency to blame others for their bad decisions. I personally feel like you have a caricature view church/bible.

@@aaroncook5928 I wasn't talking about all of the churches ofc , but there are those out there with extremely wealthy pastors that fly private jets or live in mansions and aren't really hiding where that wealth came from... Granted i don't know where this pastor was coming from, and what he meant by using his money for so i answered with that extrem in mind. Also about learning everything financial you can learn from the bible, while you can learn many things from the bible, you can't learn everything from it as current systems didn't exist back then and also many people dont really know how to derive what they read and apply it to their lives, otherwise we wouldn't have nor need any spiritual/religious leaders to begin with.

@@aaroncook5928 It is easier for a camel to go through the eye of a needle, than for a rich man to enter into the kingdom of God.

@MariaEduarda-jw3eh keep reading. You stopped too early. Context is key, which is why you believe wrongly. Verse 27.

Call in when they're live, in January.

These, not this

Buying too much material things, etc.

Time and saving. Say you bring home 3.5k a month try to live of as little as possible with a bare min of 1k+ into savings a month. Truthfully, you will want to try and pick up a second job so that you can at least start packing 2k+ a month into a savings account. Then it's just a matter of 2-3 years for a good chunk of a down payment.

@@Jorbad.Doesn’t he recommend buying investment properties in cash?

@@rjthomasindyusa If its an investment property then yes full cash. If this is going to be you first home then it can be worth it to take out a mortgage. So that you are not paying rent + chunking into savings, what you will do then is pay mortgage + chunk more money into said mortgage. But you want a large down payment imo, at least 1/3 the price of home while still keeping a healthy emergency fund. This is only time I would say it is acceptable to borrow money for your first home to get out of paying rent to someone else.

@@Jorbad. My point still stands. How does the ‘average guy’ become wealthy if you wait to buy rental properties in cash in this market? It may work ok if you have a massive income…. but not on the median household income.

@rjthomasindyusa it depends on your current situation. Your age and education level, what's your current job, location you live. Are you married, in a relationship or single? Do you have dependents, kids or something other that you are financially responsible for? How much debt do you have, if any? Alot of info needs to be known before you can start your journey to wealth. From the post above, I assume you make 60k a year. If so, is there room to grow in that business or field to increase your income? If not, can you get more hours or 2nd job to bring in more to speed up your journey? If the answer is yes, you will have to sacrifice your time now to increase cash flow to build wealth for the short term 3-5 years. While also increasing your skills in that field or educating yourself in another for a higher base income in the future 5+ years. It will take alot of sacrifice now to build wealth for the future. What that means is the time you spend watching TV, playing video games whatever pleasure activity will need to be cut down first. That doesn't mean cut it out. But replacing some of that time with work can increase your saving a lot. When I started, I did delivery Friday, Sunday night, and all day Saturday. Was about 15-18 extra working hours on top of my 45hr job. It sucked a lot giving up that time. But it increased the amount I was putting into savings by 1k ish a month. Remember wealth builds wealth. The first 5k, then 50k then 100k will be really, really hard but the more you have the faster it builds. It is really hard to understand that it took me a long time even after experiencing it to believe and understand it. It took me 20× the effort and time for my first 50k, and then it did for my last 50k.

Wow that’s amazing! 5 years ago I agree, just like home prices building is nuts. We live in a rural area of NC- not too expensive area. We have had several quotes recently and a basic 3 bed 2 bath home is in the 400k range turn key. I’ll stay in my $800 2,700 sqft house payment and keep my land as investment for now.

Almost anywhere in SC

The cost of tv keeps going up. Ive heard him complain about it before.

So they can hear

She'll have $500k in 15 years, but that's before inflation, which eats into it. Dave's advice was appropriate (start saving), but she will feel like she can take the equivilent of $20k/yr after a more conservative withdrawal rate and inflation are taken into account. With a paid for house and social security she should be fine.

He was only giving an example. The main advice was to go to the expert he mentioned to make calculatipns with. The 500k thing was s rough example to tell her she is not in the shits and that she wont go hungry and cold.

Dave didn't say she was withdrawing 10%. He said she will be getting 10% on the investment every year. So if she doesn't touch the sum invested she will have 50k (if 500k invested) every year. The 500k will still be there

​@@Morgaidewhich is a ridiculous assumption and a short path to ruin in any kind of down market when you can't afford to lose much principle. The long term average of the market (before inflation) may be 10-12%, but that has never meant that it returns that steadily every year. Some years it will gain more, some it will gain less, some it will lose money.

When you get married you become one. There’s no his debt or her debt. It’s their debt

@@kevinjames6120 it’s bird brained advice like that, that gets men into trouble.

Why be nasty?

She will only stay ur gf for so many years bro that's why u just take ur time dating so u stack the odds in ur favor to win

There are still real men *and* real women out there. 🥂

Be gay that way you have equal rights in the court

Yeah, I don't think women should get married, either.

That's such a lonely life, lol. Even if you have a girlfriend that u live with, after enough time passes, you're common law married. So if anyone were to follow your advice, they can't even have a serious relationship.