Find Out How To Make Your Money Work for You! | April 26, 2024
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- เผยแพร่เมื่อ 25 เม.ย. 2024
- The Ramsey Show (April 26, 2024)
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Jade Warshaw & Ken Coleman answer your questions and discuss:
"I need a car but I'm still paying off debt,"
"We disagree on what kind of mortgage to get,"
"Should I go back to college?"
"How do I get my wife on board with the Baby Steps?"
"How long should I help my grown son?"
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Ken has the best radio voice
Jade was right at the top of the call. Cash doesn’t work the way it used to when buying cars. They don’t take money off the price anymore - it doesn’t matter especially in more metropolitan areas. Im glad she said something
Would they even take at least 1 thousand or 500 off? I would think it's worth it for the clean break.
@@ArmoredLion217 nope. We just went and bought a nice used car over 100,000 miles and they didn’t budge on the price because of cash. They actually talked to us about why that doesn’t work anymore. It had a lot to do with the change in systems and centralization of processing for dealerships. There’s no difference in the speed of them getting money or credit for sales between cash and credit (this is my understanding based on that conversation) so there’s no incentive. Had a similar thing happen even private sale because most are desperately trying to escape negative equity.
She was definitely right expect the Nissan part 😂😂
You cant wear a Nissan out..@28cthedestroyer
Private sale cash still talks
I don't understand why the first caller has to get a car when she lives in the most walk friendly area in the country AND it's a 5 minute commute. She could get a really good ebike for 1500 and continue to pay off debt
We got Ancheer bikes from Walmart for $750.00 they work great
she seemed deadset on getting a loan.
The more I watch the more I love Jade! I love how real she is and how articulate she is! She also has amazing discernment, she’s able to detect the underlying issues early on.
I had a feeling that the 1st lady was gonna hang up but instead she “lost service” as she started getting exposed 😮
I really think you’re right. She panicked.😂
I think she did hang up, and they didn't want to admit it
@@BeeDee-qs9soI already didn’t trust her once she went from living in NYC to Wayne, NJ 🤦🏾♀️
Exactly.
Dynamic duo. This is the root beer float. Ken and George are a sherbert shake.
I was listening to this while I was on patrol today. When Ken asked how long her commute was and she mustered out “it’s a 5 minute commute…”
I laughed so hard that my supervisor called me and asked me if I was okay. I showed her the clip and she laughed just as hard.
That was good… 😂
A case in point of how Ken knows how to press for the really salient details. She just wanted permission somehow to get another car ASAP. Get a bike.
Yes because we all know that a job is the only place a person needs to go in their life. Not sure how you haul bags of groceries on a bike? Vicki
@@richardeidemiller6739exactly
You can get an electric bike with bags for groceries and laundry for 1500. I was bike commuter for years. Until winter, it works, and now you don’t even have to pedal. Added bonus - no car insurance either!
This is the only show it can't go wrong. that is how I see it, you can't go wrong by saving, living below your means, paying debt.
Michelle from Jacksonville: You are a classic enabler. Only a silly woman would make so many excuses for their son who needs to figure it out on his own.
Michelle, why are you laughing?
@@brucefredrickson9677 Probably nerves.
In New England, it's not the mileage that is important, but the age of the vehicle. Most vehicles are rusted out at 10 - 12 years. It's not like in the south where you can drive something for 500,000 miles.
I love Jade's outfit. She looks great🎉
What about content?
Don’t see her doing this, but I had a 5 min commute for a while - bought a moped for $600 and got me to work everyday. $6 in gas A WEEK.
I ended up keeping it after I could afford a car just because it’s so cheap to run
And much of the rest of the world commutes on bikes, electric bikes, and mopeds.
She didn't like their advice...lots of resistance.
$50k for aircraft maintenance is nuts!! My husband is an A&P-went for 18 months & it was about $19k (tools are $10k of the program cost) for the whole program. He got financial aid & we cash flowed the rest.
Totally share Sahir’s paradigm shift! Last year, before finding Ramsey, I had been planning to take out a student loan for school. Now since discovering Ramsey, I’ve totally changed my mindset. I won’t go back to school until I can cashflow it.
Ken suggesting that a project manager can do PMing without deadlines tells me he has no clue that PM entails 😂.
Deadlines are a HUGE part of a project manager's job. 🤦🏼♀️
@@bettedavis9261 In fact, really the MAJOR part b/c a project MANAGER is trying to MANAGE the deadlines!
@@Trustbutverify2651 yes! My husband works with project managers who can't manage the people or work schedule.
Sorry but Dave is the only one that knows how to cut through all the storytime stuff and teach the baby steps.
DR is great but the others have insight that is valuable as well.
As the years have gone by, DR has become grossly arrogant. That dude went bankrupt - a permanent record. Show some humility no matter how much wealth you have. He used to have humility.
1:30:44 Angie, deadlines, customer demands, budgets and schedules are THE components of a project manager's job. Ken is woefully ignorant of that line of work if he thinks you can find a PM job where they don't play a large part of the job, if not the entire job. It sounds to me like you don't like what it entails to be a project manager.
BUY THE Nissan Versa
in 2019 I bought mine for $2,800 and it was a year 2009 Nissan Versa with 98,000 miles
It's now 2024, I have 180,000 miles and it hasn't needed ANYTHING (besides an oil changes, new breaks, and new tires!)
Definitely a hard working dependable car still driving today!! ☺️
I have been grooming dogs for 11 years I can start a entire salon for 10k easy. 40k is insane you can start grooming at a vet and get 2 experiences at one time
That's a great idea!
When it comes to vehicles, mileage means nothing - it depends on how well it mechanically kept. Don't waste your money when it comes to taking out loans. Pay $6,000.00 cash for a vehicle. The parts are found at the dealership and they can repair it if needed.
Hayden can probably go the Army route to have them pay for Vet school. The Army has veterinarians.
Isn't that like an 8 year commitment to the military? I'm not saying it's not a viable option, you get the schooling, experience, housing, health care, and paid. But no student loans, plus GI Bill after the military for my schooling.
@@mattTHEEgreat So what? It beats being in significant debt for more than double those number of years. PLUS, there are many other benefits such as learning the ins and outs of what you do and don't want to do when you open your own practice and, if staying in the same area, already having a slate of clients and/or a reputation. Those are invaluable in starting a business rather than learning expensive lessons on your own (while also paying off high student loans.)
@@Trustbutverify2651 I'm not saying there isn't upside, but the military isn't for everyone. I have seen a lot of people not cut it. Also what if halfway through he changes in his mind. Plus the military can move you whenever, if he starts a family he might have to uproot his family every 4-5 years.
Military Vet programs are very competitive. He doesn't even have a 4 year degree yet. He is also unclear what he wants to do...dog groomer and dog vet are very different glide paths.
On the 15 vs 30 year, I tend to go with the 30 but then pay on it like it is a 15. For my mortgage, there was a small rate increase with a 30 over a 15. It locked me into a lower monthly payment for when I have "bad times" but then on good times...I can pay extra principal. Since purchasing, I am in a time of "good times" and paying it off like it is a 15 year.
I tried buying a private car once to save money and I got screwed by unforseen legal issues.
I bought a car for $4,000, had a third party mechanic look at it, I had the dealership look at it and all was good.
I then got brakes and basic maintenance. What screwed me was a specific law stating all catalytic Converters has to be from a dealership with documented serial numbers. How the dealership missed that in my opinion is crazy.
I passed smog, and I was not polluting but the serial number was scratched off so the smog place denied my test. Again, not because it was polluting but just not in a database.
Long story short, the family I bought from knew a chop shop that would swap out illegal for legal and they took the good part and sold it for $3,000 on black market and then sold me the car for $4,000. And by the the time I had to get rid of the car we had paid $8,000 and had no car.
We were told to sell it to someone else to deal with but that's just not right to me so I donated it to veterans.
Be careful, I was, dont buy a lemon, it wasn't. People on this channel love to say Individual choices are to blame for everything but that's just not true.
What's frustrating is some can file bankruptcy and try risk again and others can't get rid of debts and or climb out with the same social services. People will jump to my lifestyle and sure pennies can be saved here and there but I've never cost my society Millions and Millions through bankruptcy.
Then you have legal grounds to not only sue the vendor you bought it from but the dealership that missed that part of the inspection as well as reporting The Chop Shop that the family is connected to
Yeah that’s a weird situation most ppl are never gonna see in a 100 yrs most likely. Sounds like u just made a 4K gamble. Typical logic today is I had a bad experience lemme buy a 40k car.
Nissan are no good stay away from CVT transmissions
Nissan Versa is junk...don't buy. It's a true econo-box.
In FL its a "quit claim deed" but mom should have some proof that she provided $40k for the down payment to get her $$$ back.
Go to a southern state and buy a 5000 dollar car, get it treated as soon as you get back home (southern cars don't usually have any rust proofing -- nor does it have rust). Yes it may have a mechanical issue down the road but it will be rust free.
Yes I’ve never had rust. It’s a big advantage. And had 3 f150s so far. All of them gone past 225k mi before sold . One I even bought at 164k mi and ran it for 7 yrs til 260k mi til sold
What's with the hate for the Pythagorean Theorem? Engineers use it regularly.
Tough love is harder for the parent. I'm experiencing this right now. My son has changed his number aand deleted me from any contacted because I finally put my foot down stopped allowing him to manipulate me.
You got this Momma. Just pray for him, prayer changes everything and forgive him. All that was said and done in anger. Sometimes love is better with distance.
Absolutely. This woman didn’t set boundaries early enough and now she will probably lose contact with her grandchild in the process. Obviously her son picked a real peach 😵💫 and as soon as momma closed the purse it’s going to get ugly.
Calling Dr John to the call stat!!
Couldn't help but notice you mentioned absolutely no details about how he allegedly manipulated you.. 🤔
What do I do now?!? Where do I invest? I am in my 60's. Net value $1.2M. No Debt. Rental property. 401K. Pension. Going to retire in 4 Months.
Not enough once you get sick
Dave is having his investing class in May - sounds like that would be good for you to watch
1:25:57 Ken, you were correct the first time. Proper grammar would be "Jade Warshaw and I."
These two are my favorites. Love Ken and Jade!!! Thanks for the show today!!!
Talk the grown son he is 35 yikes-grown a%% adult through it, don't bail him out. Talk him through this, he is young he can work multiple jobs and massive hours. You have to talk the young people through, bc parents one day you will die and the kids need to make it before you die-on their own.
Don’t buy a Jeep! Get a good cheap used reliable car. They can be found easily.
A career is to pay the bills-vacation and hobby is the love part, love your family. yes, I had 2 jobs I loved and I was lucky, but 17 years worth of not realizing that some people pick a career they love but cannot pay the bills and that is not fun. I wish i had started a degree with something that pd. the bills and then some, not when it got hard degree I changed to easy one that a degree really was not needed in 80s all it did was get my foot in the door. I no where near worked less than 90hrs. and 3 jobs and 7 days per wk. when I first got out of college and had no phone, no cable, etc., it was horrible.
Love Ken and Jade together!!
Glad I found your show. Lots of great advices and informative topics...
I have a Wrangler too but I am currently selling it. I just bought a 2007 Prius in cash. It was around 6,000.
God richly bless you from The Netherlands 🇳🇱
Great show today. 😁👍
You do not need to go to A&P school to become a certified aircraft mechanic. You can also gain the experience through work thats 100 percent the best option for anyone looking to get into aircraft maintenance
Maybe the 250 for vet school might include undergrad. And you likely can't work during the grad school and residency.
*We need more veterinarians!
Yes.. vet school IS that expensive. And here's another scam....
Back in the day, if a horse or dog got sick, the clinics at Texas A&M were super low cost because the students learned from them..
Now, those clinics are as expensive as the highest priced vet hospital.
I'd suggest this young man go to school, with the loans, then join the military. A 3 year enlistment will forgive veterinary student loans. My vet's intern told me this.
Yes, the military is great advice provided that he has the intellectual ability to FINISH vet school. Many students THINK they are going to be vets, physicians, pharmacists, and dentists and borrow a lot of money and then don't finish (or pass the licensing boards.) Then they are stuck with huge debts and not enough income to pay them. FINISH WHAT YOU START should be their motto.
Katherine from AL: It sounds like this inheritance is a "definite maybe."
And why isn't her husband planning "his" inheritance?
Great show
48:27 I pay for a mobile groomer for my Shihtzu. I can give him a bath and shave him myself but a beautiful cut and the nails and glands are beyond my skill ability. I only do it about twice a year. It costs $100 where I'm at compared to $45 at a regular groomer. Worth it but definitely a splurge service.
Good job correcting your "me" and "I" grammar, Ken! 🎉
All colleges prices have gone through the roof. Even "cheap" schools are 12-15k a semester + room/board. In most cases they don't make a lot of sense. I mean I have a software engineering degree, which has served me well but in the late 90's early 2000's I paid 1500/semester about $3k total. I ended up with some loans as life did take a left turn in college. The cost to earning potential math worked out. But looking today the same degree would cost me 200k... and honestly I taught myself the core skills I use today anyways, college provided me with a piece of paper to get my foot in the door.
Can I ask an honest question. I am 53 DO NOT OWN a home. I am a disabled Veteran, make 50 thousand combined with job and DAV Benefits and have almost 500 thousand in 401 k is this good?
Win …..with your money ….relationships ….life …
2nd caller yall shoulda based it off 20k u know people be cap n 🧢 😂
Hayden - his best move right now to check out is options is to take the credits he has earned in college so far and go to his local community college and finish a Vet Tech degree. That will be very low cost which he can cash flow with financial aid and working part-time. That will let him know if a long-term goal of being a vet is really what he wants to do. Anyone considering any kind of medical degree - veterinarian, physician, dentist, pharmacist, etc. - should consider the military to pay off the loans which WILL be necessary to complete their education. Saving up that kind of money in advance is virtually impossible as life will take over with bills, spouse, perhaps kids, etc. I have NO IDEA why the RS personalities rarely, or never, recommend the military to get through medical training in these fields.
Another instance where the Ramsey personalities are no help with people who are bright and going to professional schools. They seem to think that you can easily get into the cheapest professional schools…. They need to get some education on this or do not give advice. Dog groomer is better long term than vet…. Real?
Does anybody know how to call in to his show or have a number
Ken is quite right that Bo's original plan to be a civil engineer is not that related to his final goal of taking over the Dad's business. However, he can certainly get some good business courses at community college more targeted to what he wants to do, as well as online certifications, again specifically targeted to what he will need to have to take over Dad's business. Look for shorter and cheaper options to get the knowledge while continuing to work with Dad.
49:26 ridiculous it costs that much…
Try an older Toyota or Honda. They're still great over 100,000 miles.
First caller Would rather pay 20-30k for a new car with lower interest rate than 5K 😅 never again.
Said no one ever with even half a brain in this day and age in which everyone has access to TH-cam and chances are someone out there has worked on the same generation year make and model of car that you're considering buying or owning in order to do simple things like change the oil replace belts replace a starter or alternator things of that nature , tune ups
@@motoryzen what? That makes no sense. I’m talking about the first caller. Not me
£4995 for a 2012 banger is the worst advice out there 😂 pay an unemployed friend 500 a month to drive you 🎉
I feel you Jade...😅
Aunt paid down payment on home for nephew and home owned by nephew and girl friend. Aunt should ask for money back from the nephew and girl friend. Even if they say no, then the aunt can then say I am done playing the enabler. Pay me back, you know it is the right thing to do. But absolutely no further financial support!
Y’all shoulda told 1st caller fix the main issue with jeep then sell it then buy reliable car cash 💥
She seemed adamant about not spending any more of her own money
Stephanie has no idea what the old man is doing
Jennifer - I agree w/ Ken that the husband is looking for margin. He is 60 and Jennifer is a lot younger. I do not agree w/ Jade that everyone who has a 30 year mortgage then lies back and uses the money for other things. We took out a 30 year mortgage and paid it off in 7 years. My husband also was the kind who wanted margin in case one of us lost a job or something else like a medical emergency with our kids arose. That did not happen, but we knew from the beginning that 30 or 15, our goal was to pay off the house. I respectfully submit AGAIN that none of the RS personalities are in the age range that the husband here is at 60. He is well aware that the other side of 60, anything can happen, especially in terms of health. Take a 30 and make a commitment to pay off the loan as fast as possible, Be sure to require that any additional payments or unexpected income will be applied to the PRINCIPAL at the end of the loan, not to the next payment. In addition, you can pay half the monthly every two weeks which will automatically shorten the 30 year loan to 20 years b/c you are paying a 13th month. Lots of ways to pay off early - research how online and make it a goal.
They operate on the premise that all callers lack discipline and forethought.
Most people dont have discipline. We live in a consumerist society!
Is the lag really that bad? They just keep on talking over the hosts 😳
Lot of big age gaps this episode
Ken is the best
This caller is insisting on debt- she was asking for permission😢
Which color? This is a 2-hour long show. Timestamps help. We can't read your mind
😢 0:12 😮
Uncertain with Ramsey response.
Michelle, please, please, please do not continue financing your son. Time for him to figure it out and you to cut the apron strings. He is not going to go hungry or homeless - and if he does, there are food banks and shelters. Necessity is the mother of invention. The last real job we have as parents is to make sure our offspring can survive on their own b/c the law of averages says they will outlive us. When we can't let them learn the hard lessons and figure it out, one day when we are gone and the are older, they will still be looking for someone to take care of them and will come up empty-handed. So he has an awful credit score? Get a job, start paying bills on time, start paying off debt, and find options for paying the rent. DO NOT CO-SIGN ANYTHING FOR HIM, PLEASE! You need to be taking care of YOUR future.
Good advice.
Aircraft Mechanics don't make a lot. And every airplane you sign off on is a liability. I would advice him to do more research in the field. If he still like the idea. I would suggest he find a EAA (Experimental aircraft association) chapter and network with people there, find and become an apprentice with a mechanic at the airport, buy the study material and go take the test. In 2-3 years he will have his A&P license and have real world experience being far more attractive to employers than the guy that went to a college. You may also be in a position where the guy you apprenticed with is looking to retire and sell the business to you. Also you do not need snap on tools. Go to Harbor freight. Buy a nice rolling cart and the tools you need (there are some specialty tools but not many)-- you can have almost every tool you need for 3k for the nicer quality harbor freight tools, where the same tools from snap on would be 30k. And they have life time warranty. People will say but but but .... ok lets say you break the harbor freight tools more often (buy 2-3 of the more critical ones and warranty them when and if you need to).
At 60 won't he be penalized for taking from the 401k?
No financial penalty (except taxes) from the government if a person is at least 59 1/2.
Can I call from England?
I need help.
I have 100,000 euros and a bit in the bank. I own my car ( which is worth about 10ish thousand euros) I have no debt. Debt. My husband left me for a younger woman and won't let me sell our house. We owe nothing on our house . It was worth 250,000 but is only worth 150, 000 today.. because it needs work and I can't get his permission to sell or do anything because he has tried his best to buy me out for the lowest price.
I am 62 years old and very scared but do have 3 wonderful children who are 100% a support. Can you advise?
Jenny from France but English
I’m sorry to hear you are going through this. Not a financial expert here but do you have a good solicitor? Who determined the value of £150k for the house? Is the house in France or the UK? Generally houses don’t go down in value due to repairs this much unless the roof of the property has been blown off.. if you can afford it I would get a good solicitor and they will request a proper valuation of the property and guide you through the process. You can get a quote for the legal work so you are not surprised with a legal bill. In my experience a good solicitor is worth every penny. Take care and good luck!
They take calls from Canada, so I'm sure from the UK is fine. They try to help everyone.
Jade is right, The Jeep Liberty sucks, but Ken, Jeep Wranglers and Cherokees with the inline 6 are one of the most reliable rides. Mine has 215,000 miles and still going strong. When small issues arise, i can fix them cheaply on my own. Jeeps also retain their vskue better than almost any other brand. Just avoid the ones with Fiat engines.
Jade also distinguished between the Liberty (bad) and Wrangler (good).
@@Trustbutverify2651I agree the Wrangler is good. My husband has his first one over ten years with more than 200k miles on it. He's had his second one since 2021. He loves Wranglers. Very reliable.
Honda and Toyota
Why is everyone mean to Ken! He is so nice. He is better than me cus I sure would say something
28:33 these people are clueless…
Don't buy the Nissan!! The cvt transmissions fail all the time between 100000 and a150000. Take the Lucerne.
Your better off walking than buying that Nissan Jade 😂😂
Honestly, a dog groomer makes about what a companion animal vet makes what a vet makes. It’s harder to get into veterinary school than medical school. Plus, vets have some of the highest suicide rates of professionals. 48:34
Yes - and a good reason to start at community college and figure out if the person can actually COMPLETE all the required science classes with only A's. If he or she can't, there will be no vet school acceptance. A physician only has to learn one body - the human one. A vet has to learn hundreds of different bodies, and the animals can't talk to you!
@@Trustbutverify2651exactly! Ken blew this one
@@Trustbutverify2651 exactly. Plus all the heartbreak of people who have to euthanize a pet because they cannot afford the treatment-the heart break is heavy, and the vets are not making a good living for having 1/4 Million or more in their education.
The path to being a groomer, is starting as a bather, sitting underneath a skilled groomer and getting paid while you learn. You can even go to local kennel clubs and offer to help with the dogs as an apprentice. Shoot, even going to work at a big box pet chain and going through their training.
@@pamsmith1665 The area the RS personalities are the weakest on is educational preparation and how to minimize costs through all the different ways for various degree programs. Their only answer most of the time is to stack up cash and then cash flow the degree or search for scholarships. They are unaware of how to earn gen ed credits through CLEP exams (free prep on Modern States), maximize community college before transferring, etc. So many students want to go into a medical field - until they hit organic chemistry!
Darrell - Ken is right. What she's worried about is if he's on the road, it's just one more thing she is going to have to manage. And what about the relatives they're supporting if I heard right. She should not have to be worrying about taking care of them if her husband travels.
🌿🌿🌿🌿🌿
57:26 Jade is ngl
What does that even mean?
OK - RS, let's not quote anything from Thomas Jefferson on a show related to debt. He was horribly in debt all his life and his heirs had to hold an auction to pay off his debts after his death. We owe him a great deal as a political thinker, but he surely did not know how to manage his finances and was seduced by the same kinds of things that get people in trouble today, including living well above his means! He is responsible for thinking up the famous phrase "life, liberty, and the pursuit of happiness," but his own pursuit of happiness got him in a lot of debt.🤣
He also had Slaves.........and children with one of them Sally Hemings.....AND HE WAS BROKE....GO FIGURE😮
16:12 to 16:20.." I'm por ant "
No
" I'm por TANT "..PRONOUNCE the damn letter t.
This is the usa..not the uk where they are hellbenr on ignoring the letter t of ENGLISH.....language
Did Hayden say he’s about to have 500,000 in student debt?😅 he must really like animals.
I'm not sure why the RS people promise everyone that money will double every 7 years. That requires a steady 10% interest rate which is not always the case.
I agree...so frustrating.
They recommend investing in funds with a history of an annual average of 10% or more. So they are not wrong.
@@unaveragejoe7107 I didn't say they were wrong. I said a person can't always count on 10% and if they are going to state that so confidently, they need to actually suggest those funds without the listener having to research every fund. A "history" is also not a guarantee. My point is that they do not qualify that remark when they make it; they simply state that "your money will double in 7 years." When someone makes a blanket statement like that, they need to explain how to find those funds b/c otherwise the statement makes it appear to listeners that any money invested anywhere, even in "good mutual funds" (which is all they use as a qualifier), will give those returns.
@@unaveragejoe7107 I didn't say they were wrong. A "history" is not the same as the blanket statement they make with no qualifiers which communicates to the listener that the doubling occurs every 7 years with all investments. They do use the phrase "good mutual funds," but I'm not sure the listeners know what that means or how to find them (without one of their investment "pros").
I absolutely love all the Dave personnel but where is Dave lately? Anyone know?
He's doing donuts at the Tesla dealership.
He was hosting the Entreleadership Summit conference this week.
That poor lady helping her grown son he sounds like he is just blowing all his money on junk and dinners and then crying poor me
Never rush into buying a house and having kids after marriage. You need some time to see if you and your new spouse can even function. That way is you need divorce the split is much easier. I literally never have to think about my ex because we never made big commitments in my first marriage. It's totally worth the wait
Why did you even bother?
42:06
3rd caller meet him in the middle at 20yr pay off 😂
Ricky - you can't be serious! Man up and pay off your Mom's PLUS Loan which she signed for with the understanding you would pay for it! And you give the LAME reason that you are watching your friends having a good time and buying STUFF and the green-eyed monster is on your shoulder. REALLY? REALLY? REALLY? Why would you expect your mother to put her financial situation for the present and future at risk for YOUR schooling? She needs to be using all available resources that she has to plan and pay for her own future. I do not agree that you should follow the baby steps in this case. The baby steps are for YOUR debts. In this case, if something were to happen to you, she would still have this debt because it is HER debt. In addition, there are different kinds of parent PLUS loans and you need to find out which kind this $57.000 loan is b/c it makes a difference. Is it is federal PLUS loan or a private PLUS loan? The interest rate on your federal student loans (if you are paying them on time) is about 5.50%. The interest on the PLUS loans is variable and currently topped at 8.05%. PLUS loans are generally designed for the borrower to begin paying immediately, while federal loans need only to be paid once a person graduates. I don't know why they did not recommend Y Re Fy (or however you spell it) which they usually do. AND RS PERSONALITIES, PLEASE RESEARCH EVERYTHING ABOUT ALL THE KINDS OF STUDENT LOANS AND THE IMPACT ON THE PARENTS OF PLUS LOANS BEFORE GIVING COOKIE CUTTER ADVICE! In some cases the baby steps are not the answer. They have helped a lot of people, but they are not on the level of sacred writ. I can't even believe Ricky would THINK of putting his mother's financial future at risk. And parents, please take a lesson. NEVER co-sign or take out a PLUS loan for your kids. There are less expensive ways to finance college and if your kid needs a PLUS loan, he or she is putting your financial future at risk as you grow older when your health and ability to pay can change radically in an instant. Your kids can use other options and borrow lesser sums for school. You parents cannot "borrow" for your retirement!
Everyone invalidates Kens opinion as if his opinions don’t matter or as if he is under qualified. Just because he is not a money guru doesn’t mean he doesn’t deserves respect. Jade looks annoyed on this episode
Will you need to up your income. Get a second job
She cant hear anyting cause you didnt agree with what she wanted.
We pulled my husbands 401k to pay off our house. Best thing we ever did.
So why couldn't you have pulled some of yours as well last I checked marriage means you are a team which means both of you put in the effort
Because we agreed that the house payment was his, and everything else in the entire household was mine. Plus, his ex-wife took half of his, so his was only exactly the amount needed to pay off the house. He is retired, I still work. So by paying off the house with his, he now only needs to pay property taxes and property insurance out if his SS and pension. I pay everything else, including income taxes on ALL of his income. Yes, SS is taxed. So since I am still working, my (our) 401k is still growing at a rapid pace. So, in a sense, "we" did pay off the house, since "our" 401k is still growing and compounding.
The fear-mongering John/Dave insurance ad is cringe
GET REAL, Ken .a five minute commute in a car doesn'"t mean you can walk to work tell me how you would like to leave an hour early so you cam walk to work for 2 or 3 months!!!
It depends on the driving distance and the speed limit of the particular path as well as how many other obstacles would slow you down be it on foot or bicycle
On what example a 5-minute car commute could mean you're literally 30 seconds from the interstate entrance ramp and you're having to travel around 2 to 3 me on the interstate at 60 plus Mi an hour speeds and your place of employment is literally right off of an exit ramp from that. In that case know it's going to take you a hell of a lot longer than an hour or three to speed walk run or even ride a bicycle even if all the path of travel is flat and there are walking or bicycle safe Lanes
But at the other end of that a 5-minute car Journey might mean you're on a road with a bunch of red lights that's barely even 1 to 3 me tops and you can easily speed walk 3 miles an hour or jog the whole way or bicycle it in around half or third of the time. When I started working my current job my first entire week of employment I was exactly 6.5 Mi away from work and my car had a bad problem involving coolant entering the combustion chamber thus milky looking all thus my head gasket had a hole in it. So ultimately the first week I had to ride a bicycle 6.5 Mi each way that's about an hour ride when you're fighting uphill and downhill as well as some traffic as well as many red lights and I'm talking more than seven that often I got stuck at as well as the occasional idiot train that would come through
INSIDE VOICE, Jade.
Melanie jeep is junk. Get a Toyota. Or Honda. Period.