You Have To Own Your Stupid Mistakes Before You Can Win | July 29, 2024
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- เผยแพร่เมื่อ 18 ต.ค. 2024
- The Ramsey Show (July 29, 2024)
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Dave Ramsey & Dr. John Delony answer your questions and discuss:
"My sister wants me to pay for her car that was repossessed, "
"Are international investments necessary?"
"How much should I spend on an engagement ring?"
Is the US in a recession?
"How should we split up our house in the will?"
"Should we move to an area we can afford?"
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I did my debt free scream today!!!! thank you guys so much for the encouragement. i paid off $30k in 1 year. Ate rice and beans for 1 year. Now the new journey begins to save money for a house!
Congrats!
Amazing! Congratulations and best wishes. 💙💛
It was such an amazing inspiring story of your journey that you accomplished! Thank you so much for sharing the reminder of why freedom from debt is worth achieving!
Congrats!
Thank you everyone. I'm super happy right now. I worked really hard this year to pay off my debts. My friends definitely think I'm weird!!
My wife dragged me around to every pawn shop in Charlotte looking for her perfect ring. We finally found 1 for $750. The first thing she does is take it to a jeweler to have it appraised. It appraised for $2800. She was so happy. I always thought it was crazy to go into debt for a ring. Any jewelry for that matter. So glad I found her.
“This is how we talk to people we love” Dave’s the best!
Hey Dave thanks for all you do. When I took your class years ago I was broke.(didn't look like it but I was) now my boat is paid for, vehicles are paid for, house is mostly paid for. Small amount of debt on my business. Cars are old, boat is old, (in great shape though) but now I sleep well at Night. Thank you Dave!
what i like about delony is that he is not afraid to go deeper into the why you went into debt. That is what helped me personally, in order to put an end to the overconsumption cycle i was in.
Thank you, Mr. Ramsey for providing facts and data on what a recession is and the reality of where our country is economically. Not biased opinions. I enjoy your show and look forward to it every day ❤
Ronald - no, no, no for giving money to your sister. You need to make a break with that past pattern BEFORE you get married. Reason to give her: you're in a new relationship now and need to watch out for your own family (present and future.)
Those 2 are my favorite ❤Followed by Jade&Dave
Hi Dave-just an update, we TSP folks (i can only speak on military)have target date funds now. I was hesitant for years, but its actually doing quite well. We also have access to mutual funds & Roth in our TSP as well. The blended Retirement now matches, but you loose 10% of your retirement unless you stay past the 20 yrs. Lot of improvement over the last 10+ year's 😊
Exactly!!! I’m still baby step two but I’m super excited to contribute my 15% in my Roth with the good mutual funds! Also losing the 10% isn’t so bad because we get the match which is 5% and if you do it right, you will have way more money at retirement.
“Some of you peoples parents are cousins, I don’t care what you believe”😂 48:50
Damn, you’re probably right but that’s damn sure as hell insulting man but hey, I can respect your opinion. Hey, we all have opinions. Sounds good to me. Go for it
Still overall very, very unprofessional thing to say!!!
I giggled there!
@@isidorolopez265 only insulting if your parents are cousins 💀
Hillarious - toughen up people
1:50:15 Dave mentions that your income is your number 1 wealth building tool. The rant that really stuck out for me was the “Think America” rant. In that rant Dave says “ your number 1 wealth building tool is your income, and when you give your income away, you don’t have it anymore , ugh, is this hard. And when you give your income away, you have nothing. All the money comes in, all the money goes out, but by god we’re counting our discover points; oh we got airline miles…” I could go on but y’all should just watch it if y’all haven’t seen it yet
Finally, someone who puts some mustard behind the scream
P10
1
Yessss I missed Dave! He’s so funny talking about “going big, it’s going zoom zoom” for explaining trending podcasts 😂😂😂❤❤❤ he’s clearly back from time off with the grandkids
😂
My husband paid $100 for my first ring, we upgraded several years later and I don’t even wear it anymore. Save your money and put it to better use. We also only paid a few hundred for a backyard wedding and bought a house instead. 20 years married this year!
PLEASE DO ANOTHER CRUISE UNCLE DAVE!! 🚢 we plan to be on the next one!! 😎 🏝️
Same!
Best debt-free couple I've seen in a long time. Congratulations!!!
I wanna go on the cruise and see Steven Curtis Chapman!!!!! I wish I could go it seems like it will be really fun 🤩 I can’t wait to hear the stories from those who go!!!! Bless you all!!!!!!!!
You are hilarious regarding the recession discussion. Thank you for making me laugh so hard. 😀
I was 😂 laughing so hard!!
Favorite part of the show the recession 👏
Dave sometimes does not listen, the lady calling from Tampa states she can't afford a house on a household income of 75-90k. So for the Ramsey house buying guide, it is a 15 yr fixed with the payment no more than 25% for your take home pay. So we are taking about a monthly payment of about 1200-1400 per month so a sub 200k house in Tampa? Good luck!
Save more cash
Found 49 in a 4 minute search....
you got two answers already and most just don't like what he has to say. yes I think he's 15 year fixed is tough to do in any state. he does this because people aren't diligent enough to pay down their 30-year fixed. you actually save more by paying down the 30-year fixed then just getting to 15 year but most people can't do that
This is the best duo because both are the best in their field
LOL. Dave, best in his field? You’re hilarious.
People need to stop pretending diamonds are that important.
Tons of great alternatives.
Tons of great alternatives to "mainstream" jewelry stores, too. You can get good deals on jewelry at pawn shops, Facebook community, or private sales.
Etian! My brother! Freedom....... so well stated.
To you people who think divorce is okay and step parents are fantastic, listen to this woman say she values her bio son 3x more than the step son that SHE RAISED SINCE HE WAS 5!
I thought I was the only one! Pretty sad but hey she has a right to her feelings and her position.
To be fair she just wasn't thinking of giving the stepson her half of the house. It's petty AF though...
Yeah that’s messed up
When Dave said "My wife has several things that sparkle in her life ..." I thought "Hey Dave, that includes you." LOL
Well, Dave, as a former caseworker, they do have the ability to strongly suggest a family use a certain referral....caseworkers are like phone books of companies they refer to. Nurses can as well, but they likely are too busy to stop for lunch. Buying lunch for a large group you're pitching your company to, is a common thing. Hospital admits don't control who the patients are referred to because the hospital isn't going to get anything out of the patient leaving hospital care. Caseworker and nurses (if they have time) are always the best referral sources. It seems that the Ramsey team needs to add in someone who's worked as a caseworker, social worker, child support, etc to the show, because that is a weak area they try to give advice on.
Love the recession article segment lol
Tampa, FL on $75K - $90K 😢. I feel bad for that couple.
I looked up houses in Tampa because I have a place near 7200 Ronnie Gardens... You probably couldn't afford a place at Touchstone.. But I found a 3 bedroom 2 bathroom modest little place selling for $220000 that would make payments of 1300 a month. Plus $400 a month property taxes and insurance no HOA... You would need to put down $22,000 that includes closing costs.
@@Joce123 we recommend buyers use 25% take home pay on a 15-year fixed with 10% - 20% down as a guideline. As the Tampa caller outlined, I’m not seeing any houses in these parameters either.
@@elevate4evaIt may be that preferred paradigm won't work.. Especially if living with the parents is becoming intolerable.
Why?
I bought a cool condo last year making $75,000 a year. I saved up for the down payment, I'm
A single woman. If I can do it, a married couple should be able to do it.
I LOVE Dave showing his detailed math knowledge and going into details about the market. John Deloney is not a replacement and his work out relations are weird. He seems insecure. I understand Dave might be older than me but I truly appreciate his knowledge, along with both my parents and my gramma too!
In order to buy a place in Tampa I think that they would both have be working 2 years in order to satisfy a lender and a couple of the houses that were really good deal at $169,000 were sold this week.
Good guy Jon allowing Dave to stretch his wings on that investment strategy question 😂 that had me laughing
My son’s car was repossessed when he was around 25. He had a wife and toddler. He would do anything not to ask me for help but in that she did. I bought a car for $1,500 and gave it to him. He was pretty embarrassed driving it I think. They brought a new (used) car in less than a year. You do what you gotta do. LOL
You know you made it when you welcome an Evelyn to the fam
Carlson, Rogan and yet, this Boston girl still listens and learns.
Auburndale, FL doing the debt free scream!!! Polk County represent!
Wow, Dave is flat out wrong you do need more than 100k a year to buy a house in Tampa. Tampa bay times just did a story last year you need 85k a year to be a single person and qualify for 1 bedroom apartment. No freaking way can you support a family and buy a house in Tampa nowadays on that salary.
To the brother wanting to help his sister, if you do buy her a 1k $ 🚗 ( provided you can find one. That's not really a thing anymore) make sure you get her a bus pass too bc it'll be breaking down all the time.
I appreciate the financial dialogue. I don't really appreciate the political discourse but if we are not experts at anything in this current time, we should be subject matter experts in filtering out noise.
Solar Panel Question. My electric bill is about $4000 for the year. At $53000 you are looking at a 13 year break even point. Bad idea. And this is ONLY if my electric bill is $0 moving forward.
Riley - first find out how much a diamond engagement ring means to your future wife. She may not be that fixated on an expensive ring. The idea to get the diamond in a pawn shop and have it reset is a great idea - and get her input on what kind of setting she wants first.
Last month after being abroad(California) working I got the transfer approved to move back to my home state(Alabama). Excited I found a property to rent and packed my bags. Traveled 2000mi cross country to find that I had been scammed and now I'm living in my car. Savings totally gone. My income is 40k yr but Im being garnished 25% and after my car payment I'm just getting by.. even in the car.
Was the rental fake?
Your withholding seems too high. Is the 25% all taxes? Like is there 401k, health insurance coming out?
@@jaijai1132it's a garnishment for a loan
Here's one of the rental scams in our area. Someone post on the neighborhood watch that they're looking for a place to rent. They get a message with a photo and a description of the property and the owner asks for a $50 deposit to hold it and sets up an appointment for the next day to show it. The prospective tenant gets a call the next day that she's running late but she'll get in touch with him in an hour or so and then he never hears from her again. Or someone will actually show a vacant property and say they forgot their keys and ask for a deposit. They take the deposit and he never hears from them again because they didn't own the property.
I am so sorry that happened to you and it's happening all over the US. People are also being scammed l about Airbnbs and vacation rental.
Feelings are all this nation believes in these days! Award them for participating in the feeling like the sports these days in schools!!!!! 😢
I hope Drew's wife really does want the choice she thinks she wants. So many wives want their husbands home, but they also want the additional income. Make a choice, but don't regret the choice later. Ladies - you can't have both.
I wish I knew more about investing. I know literally nothing 😩
You don’t need to know much. Find an S&P 500 index fund and put money in it every month. That’s literally all you need to know.
Starting is super easy:
1. Create a user account at a place like Vanguard (or Fidelity, Schwab)
2. Create a Roth IRA in that account
3. Link your account to your bank
4. Send money to your Vanguard account.
5. Transfer that money into your Roth IRA. Buy shares of VTSAX. Total Stock Market Index. What's easier than owning the market?
6. Contribute regularly. Ignore the noise. Time in the market, not timing the market.
This is not financial advice, just an approach I like 😊
Everyone starts out without any knowledge! Dave probably has podcasts that talk directly about investing. He talks about getting into four types of mutual funds, and sticking with them for the long-term. He has guidelines for what you should look for. Once you do that, get in touch with one of Endorsed Local Providers. You can interview several of them and see which one you feel comfortable with and they'll help you make the decisions you need to make by educating you.
And he's very firm about not investing until you're out of debt except for your house. And don't buy mutual funds or do any type of investing with an insurance agent, lol. Don't listen to anybody on TikTok or Instagram.
Im not seeing houses in Tampa that someone making $75-$90k can afford? Dave’s 25% monthly take home going towards mortgage is roughly $1500 on that salary, 15 yr fixed with 20% down gives you like $200k budget. Am I looking at this wrong? Where do I need to look to find a house that will stay standing on its own in Tampa for under 200k. (That’s also assuming no prior debt)
I came here to say exactly this. The math doesn’t work based on his own advice.
Save more cash for larger down payment otherwise you can’t afford
@@maximusdecimusmeridius5438 right, the point is Dave was incredibly dismissive saying “$90k is more than enough to buy a house in Tampa” because he’s complete out of touch. By his own rules there’s almost no way this woman could afford a home there.
@@maximusdecimusmeridius5438In the meantime the price goes up so that doesn’t work.
I just looked on a major realty website and found some houses under $210k and plenty of condos.
GDP can go up whilst purchasing power goes down.
We just exited BS3b after buying our first home. Previous owners were multiple pet owners. lots of people, including our Ramsey trusted real estate pro, said new paint and flooring could fix it. Well, we’re still finding fur EVERYWHERE. Including in appliances, should we consider replacing them as an emergency fund (6mos/30k) purchase?‼️? And be done with it! FUR is in lots of things, everywhere! Cash flowing may take 3-4 months…currently eating out and/or using old microwave from old apartment! Wife is a trooper😅, but…
Any Thoughts?
We had the same thing. The game changers were having the vents professionally cleaned, replacing the floors, wiping down walls/fans and dumping anything upholstered that was left by previous owners.
Try a cleaning service
That’s why God said one wife one husband. Now of course there are extenuating circumstances but all this divorcing and remarriaaing is not Gods plan and people are finding out the hard way. The grass may be greener on the other side but you still have to mow the lawn.
How can you tell if someone completes FPU?
Tampa caller: Who's going to tell Dave that he's out of touch?
Times have changed, Dave.
In which ways, specifically? 😂
@@kellibuzzard9431that he thinks the whole country is dealing with 1990 Tennessee prices.
Hallelujah 🙌🏻!!!!! The daily jesus devotional has been a huge part of my transformation, God is good 🙌🏻🙌🏻. I was owing a loan of $49,000 to the bank for my son's brain surgery, Now I'm no longer in debt after I invested $11,000 and got my payout of $290,500 every month…God bless Ms Susan Jane Christy ❤️
Hello how do you make such monthly??
I'm a born Christian and sometimes I feel so down🤦🏼of myself because of low finance but I still believe in God🙏.
After I raised up to 525k trading with her I bought a new House and a car here in the states 🇺🇸🇺🇸and also paid for my son's surgery (Oscar). Glory to God.shalom.
Can I also do it??? My life is facing lots of challenges lately.
I've always wanted to be involved for a long time but the volatility in the price has been very confusing to me. Although I have watched a lot of TH-cam videos about it but I still find it hard to understand.
Alright 👍
🤘
GDP is a bad metric because it includes government spending.
1:14:00 No, no, no.... I learnt back in my sales days from a large Japanese company, You never offer gifts to a prospective company/client/business partner.... That's called a Bride, an Inducement... And a smart client will see it that way.... and Avoid you forever going forward, because the deed is done. They too could be identified as a Bribe Taker.
We learnt to give gifts after many successful complete transactions/sales/implementations as a kind gift of Thank You.
Don't do it... You will be marked as the briber..... Also, you probably aren’t speaking with the decision maker. And when They find out that a bribe has happened, you will probably get canned as well. Avoid.
Learned*
@MikeJohnson-ny2ek "Learnt" is a word, albeit British English. Poster is fine in using it.
Stop being the English police. No one asked you, and you're not good at it.
@@MikeJohnson-ny2ek Learnt is correct in the UK and most English-speaking countries other than the U.S.
Bribe
I didn’t take it as a bribe I took it as she’s going to host a meet and greet which is a great idea.
1:44:33 Dave is right about the 90k, being enough to buy a house on that income with Dave's guidelines......but on the take home pay, with so much in deductions going somewhere they can't. So Dave is also right....they need to figure out where it is going.
1:11:49 Did Kimmy call him Josh?
Yes and Dave called him George a few minutes prior 😅
@@nowthatsurban I did not hear that 🤭
Oof 😅 50:49 then literally like 2-3 days later stocks dropped 1000
For VanGuard funds, what field on their mutual fund site shows the categories that Dave refers to?
When you go into a mutual fund's page, there should be a "fund style" section. For VTSAX for example, it shows Asset Class = Domestic Stock - General, Category = Large Blend, and Stock Style = Large market cap blend of growth and value stocks
What's the deal with these lengthy commercials?
It's basically a 3 hr commercial with about 30 min of phone calls total.
Call and ask him LOL
I can see situations where leaving one child more than another makes sense....I am not sure about this one....though it sounds like the other mom had primary custody, so stepmom was less of a mom figure....but still I do not like message it sends....now in a different example if both boys have character and one makes $140k and the other makes $70k and has a disability that is going to keep him lower, then I can definitely see it.
Leaving?
@@pamsmith1665 leaving one a larger inheritance.
One hour and 42 minutes Dave’s wrong again. I just looked it up average price homes in Tampa Florida 499K that’s a whole whole whole lot different than what he said the lady who can afford a home at 90,000 Davis Way off once again.!!!!
I just went on the Realtor association website. I see some houses under $210k, and plenty of condos and mobile homes.
And if you makes less than average your home needs to be less than average. Not agreeing or disagreeing just saying average is a meaningless number for discussion.
@@DonaldRedeemed Absolutely! When you are planning for a solid future, you have to live like no one else. A lot of people in those average-priced neighborhoods can barely keep their heads above water due to a house payment that is way too high.
Why are you here?
I bot my condo as a single woman in Tampa making $75000 a year. I saved the down payment over 5 years. I live the condo
1:25:42 I feel bad for Mackenzie....
How can anyone make 500 a week when therr are jobs hiring off the street at 21 dollars an hour?
Not everyplace in the country is offering that. I'm making 20.80 an hour and that's after a year in the specific role in the mental health field. I also work min wage plus tips at a deli and that goes out to 18/hour on good weeks. Places are back to paying close to min wage in Maine, and mental health programs are still recovering 4 years after covid.
Not everyplace has the same pay as wherever you live.
Because most of these jobs are approximately 25 hours a week?
Where I live...$15 is considered really good, and that is just because state minimum wage has pushed almost that high. I make $18 an hour and it puts me almost 20% over county average yearly income.
Because she doesn't have one of those jobs
Better help is such a big scam, never advertise that stuff.
Please explain before I get in sound so good though
@@Humblequeen-m5c many people have made some good videos on the subject on youtube
+ Romans 10:9-10 "That if you confess with your mouth, "Jesus is Lord," and believe in your heart that God raised him from the dead, you will be saved. For it is with your heart that you believe and are justified, and it is with your mouth that you confess and are saved."
Consistency in Christianity is the result of prayer in action
Please leave politics out of money lessons
Dave needs to stay in his lane on numerous things. The housing prices are up because there is a shortage because builders aren't building and nobody is moving. Building supplies are expensive. The influx of foreign nationals living in apartments. On the stock market. Its going up because of inflation. Yeah companies are worth more because of the value of the dollar has gone down. You'll need more dollars to buy a company. Inflation is crippling our economy. The high stock market and high housing prices has nothing to do with a recession. Its low spending, low production, unable to pay back loans, businesses closing, low business investment, your income becoming devalued. Dave should bottle his confidence.
You lost me at "Tucker Carlson". :(
Why does it seem like John just doesn’t fit with the show
Don’t blame a selfless medical expert doctor for the pandemic
Just FYI, im a medical professional actively working in the healthcare field for over 30 yrs. Dave puts it harshly but he’s not wrong. Trust me, our healthcare system is broadly covering up damages from the “selfless” guy you mentioned. I personally know multiple patients, coworkers and friends who’ve suffered from that guys misleading (at best) creations and guidance. The data and scientific evidence proves what I’ve seen as well. But, you’ll never see it in the news cycle. The breach of trust this caused in the medical community is devastating unless you simply continue to believe you need the government lead advice for your healthcare. Point being, yes, I don’t want to hear that guys name either but what he’s saying isn’t wrong.
Wait a minute. What is the brother's truck like
Ford f 150 thanks for the interest
I think that typically people side with Dave Ramsey's advice... I believe that you do not have to do all or nothing with his advice.. To not contribute for the car if you have $4500 would be one choice. But I think that choosing to pay it is a last time might be a more valuable move.
The Brandon Admin changed the definition they use for recession so they can say 2 negative quarters doesn’t mean recession, like they changed the definition of woman…
They should’ve let you guys went during the pandemic. And no matter how bad it got, stay out there! You minimize the devastation this Pandemic caused some people, mostly poor people, the people you pretend to love and look out for. Oh, maybe it’s just the poor White people. Do better Dave
If money is the root of all evil, why do they ask for it at church ?
It's the LOVE of money that's the root of all evil, not money itself.
Because you got it wrong. It’s the LOVE OF MONEY that’s the root of evil - aka greed. And if the church has a pastor living more lavishly than the rest of its congregation, I’d leave.
Yep, the Love of money is the root of all evil. I too once thought money was the root of all evil. Nope. It’s the love of it. Anything that becomes an idol in a persons life leads to self glory.
Yall I need help. I'm having trouble budgeting money and I'm having trouble getting together a 1000 emergency fund
Because the math is difficult and finances are confusing, or because you are having trouble following the plan and taking g the necessary steps??
Its pronounced COMMA LA, NOT CAM
Hello from Chicago! I wish to win the TUNE because I have a 14 month old baby and my wife won't let me buy any more mods! Wahhh! Help me!
If the brother gave money it would have to be the final time.... ever.
Thanks for the response
But it wont
你错了
I didn’t mean to make two comments. John is the greatest shrink???? He has no credentials. What a joke. What the heck!?! He does not understand Ramsey formula. He needs to let go of the small guy ego and let growth happen. He’s so aggressive.
Dr. John has plenty of credentials. PhD in counseling, bachelors in psych, and He has years of experience in crisis response working with the police department. He has also is certified in The National association of behavioral intervention and threat assessment (NABITA) so he knows how to detect when someone is on the brink of dying by suicide. He also is trained in individual crisis assistance, and Critical incident stress management (CISM) BUT like you said he has ZERO credentials right? 🙄
Also, you can find all this on DR’s site. It’s all public knowledge John’s training and credentials. He’s very well educated and trained and he is the GREATEST and COOLEST shrink of all time.