Been married 20 years…best decision my husband and I ever made was taking the $25,000 that my parents set aside for a wedding…putting $18,000 on our first home and the balance on our wedding (which was really just a party for our guests)! We kept it simple and don’t regret a thing…we’re now baby step millionaires!! Great advice, Ken! (And George!)
A wedding is very beautiful to attend but it is not devoid of a lot of meltdowns, regrets, prices that are way too high for dresses and suits etcetera as well as having a hall of grandeur with plating that rivals a five-star menu that ultimately would not fill the belly of the guests as it would be play did and stacked and have beautiful decorations of which are inedible.... And second helpings are unheard of as they don't exist! A party for a few guests that are very close to you and mean the world to you is the way to go! Few people really get that these days, they want the ceremony and the grandeur!
@@cookshackcuisinista So true - and then so many of them who want only the grand parties are divorced less than five years later (and still paying the bills!)
$25,000 20 years ago is like $60-75,000 today. That was great you had someone to give you a leg up, that is my goal for my nieces and nephews. Good job staying the course and building from there.
Love these two together, they are hilarious! Also love Jade and Rachel together, they are so supportive and considerate of each other on the show. I’m hooked!
Ken did a good job today of trying to provide the empathy and tough love that Uncle Dave provides. Sometimes, it feels like there is a piece missing with the personalities.. but I was impressed today.
Ken often steps back and says, "Wait a minute..." It's because he's a little older than some of the others who will find that life just might get in the way of their theories sometimes. I have a brother who used to have a sign in their bathroom that read, "I once had no kids and three theories about child raising. Now I have three kids and no theories." All of his three kids were - I shall be kind - very "active." Now, thankfully, all three have turned into very successful and thoughtful adults.
@@tarahclubb4243 Nobody is saying Jade isn't competent just because someone is giving another host a compliment. This is not a competition - and Jade wasn't even on the show today. People are commenting on the two hosts who were and the advice they gave.
@tarahclubb4243 Jade is one of my favorites, so I agree. They all do a great job, but Dave really displays a special mix of wisdom, tough love, and empathy without even trying.
@@Moonbeams_SweetDreams I think that is definitely because he has lived a lot more life with its ups and downs and the "system" comes from his own life experience. The others try very hard to parrot the steps and ideas because they know they will work, but it's not the same as the original creator of the show and the ideas. They are all getting used to having a video show, too, which is quite different from the radio show that Dave devised when he was the only host for so many years.
Brooke - Focus on the marriage, not just the wedding. This is not the time to pay back every social debt both families have. Get creative. The two best weddings I ever attended were a) a Hallowe'en wedding where everyone came in costume, including the bride and groom - and they bought all the decorations half price the previous year, and b) an outdoor bonfire barbeque at a local park with hot dogs and hamburgers. There are lots of ways to save on weddings - and remember that if you pick a holiday time, churches and venues will already be beautifully decorated!
George, it seems to me that CARS are as much of a problem as food - but there's NO QUESTION that stopping eating out and starting to cook at home, especially by shopping in bargain stores and sales, can save SO much money. But it does take being proactive - cut up vegetables in advance; cook double batches so you can pull something out of the freezer when you're over tired, make as much as you can in advance on the weekend, etc. The prep work is what takes the time during the week. Make and save a meatloaf to cook one night. Get a deli chicken from Sams for $5 and cut it up for stir fry, those kinds of things. Also, a lot of families are wasting money on disposables like plastic ups, paper plates, etc.
Yes, Sarah - exactly what I was talking about in making the budget - better to leave margin at the top of Every Dollar and enter in categories as you spend down until you get a handle on what the expenses each month will be. It's very difficult to do a budget as a family unless you bring the kids INTO the discussion and family planning with the budget. George will find out how tricky this is when his children get older. Life has a way of making parents eat their words! Ken, it's also much more difficult to have those conversations with sons as a Mom than as a Dad because kids listen to Dads more. And, Sarah, if you don't get your son straight financially, much more expensive years are ahead! The most important task any parent has is to make sure the kids can survive without us, because one day they will have to!
@@gourabsarker9552 I am comfortably retired, but working part-time because I needed something to do. I didn't really like not working! Why are you always asking the commenters how much they make?
What Ken does not realize that hunting costs money besides the gear. Usually you need to buy a tag for the deer or moose, you need to travel to an area where that is allowed, you must pay for gas and food and hotels, you need to bring the animal to an abattoir to have it cut up unless he plans to cut it up himself on his kitchen table. I would never recommend that. When I was a child my Dad use to do this. Its a big mess with blood everywhere. The cost per pound ends up even more for the meat. Purchasing a share with a friend of a beef and pig is way cheaper. Especially if you can buy it direct from the farmer. And if you know a natural farmer who raises grass fed beef, the meat will be way more healthy. You can use hunting and fishing as a vacation but it’s expensive. We lived 80 miles north of a town and frequently had Americans come and stay with us to fish and hunt. The total even when they slept on our floor cost them a fortune. From gas to food, the fish ended up costing hundreds of dollars per pound. Call it a vacation but never say your going to get fish and venison cheaper because it’s not.
So true - in every respect. (And that's why I like reading the comments from people with real experience, rather than just reading shout-outs to various favorite hosts.) I was on the plane going to Iowa once and apparently the northern part of Iowa is one of the best hunting areas in the country for deer (and the guy sitting beside me smelled like it, too!) I learned a lot about hunting on that trip conversing with him. He told me that he hunts there every year with 5 other friends and the venison they leave provides the meat for 28 families (grain farmers) in the area for the winter. Now that's a good cause! When we came back from our two trips to Alaska the fishermen on the plane had these special sealed coolers of the fish they had caught - but they all said the costs of the trip and permits meant eating their salmon later was like eating gold!
Personally, I'm for a flat consumption tax on new spending for all goods and services with the exceptions being food and medical/dental/pharmacy, etc.. I know it's not popular, but virtually everything you can buy new, you can also buy second-hand at a lower price. Folks moan about how they have "no money," but what I see are packed restaurants, tattoos and fancy hairdos, name brand clothes and sneakers, expensive phones and digital devices, and very few older cars. If we only had taxes on new consumption and services (at the federal level), we would do a lot more recycling (and save land fills) and we would also have all those working under the table (drugs, prostitution, off the grid cash paying jobs, etc) paying into the system because a lot of new consumption is done by those living under the radar. We could still have state and local taxes decided by each locality, depending on their situation. As long as you have any other system, there are a LOT of people not paying in and not declaring. No deductions, no credits - very simple and you'd find out exactly how much money is out there in the economy that is not being reported because the American economy is 70% new consumption.
1:01:14....Why wouldn't you ask what it was invested in? And when would it no longer be taxed at ordinary incoming? At which point it would make more sense to do the withdrawal and then pay off the mortgage. Genuine question.
lol and you’re complaining you want a personality with more empathy yet you put Delony at the bottom. Umm he is literally the most empathetic guy. His work as a counselor trained him to be that way! I can’t understand how you don’t like Delony especially since you want someone who is more empathetic… that makes no sense to me?
@flashthecorgi2053 Delony IMO can be a bit intense sometimes, but l saw him on a different channel in a conversation with Rachel and OMG HE WAS AMAZING!!Truly empathetic. Different shows bring out different aspects of each of the crew.
@@Moonbeams_SweetDreams You said in one of your previous comment (not this thread) that you feel “some of the personalities lack empathy” and I was like WHAT??? And then you post Delony being at the bottom on your least favorites list which is your opinion but I figured that meant you think he lacks empathy which is SO untrue. Delony’s the most empathetic, kind, loving guy there is so I’m very confused how you can’t like him when you want a personality with more empathy?
To the woman calling in about the sports fees... I had 4 teens at once, all within 5 years of age, so we got hit fast & hard. We budgeted for "kids' sports & activities" every year. What we spent it on changed each year, but we always had a general fund.
With Keith's situation i bet there is a bit of "treat yourself" lifestyle because of all of the stuff they have to do in general taking care of the parents.
54:30 Matt (the Question of the Day) must not have liked Dave's answer when he, Matt, called in a few nonths back with the EXACT SAME QUESTION. Too bad someone in admin didn't catch this, as the time wasted to answer this repeat question today could have been better served answering a new, different question.
Yes, my oldest is only 8, but since she was 5 and started to have interests, i asked in advance if this year she was doing either this or this. Pushing the idea she can pick one lol and from that point i would save to prepare. She did gymnastics from 4 to 6, and then decided she wanted to do dance, which she still does. I already asked her if she plans to do dance again next year or something else lol. I am not breaking my back to pay for fifty-leven things!
The son who is a senior and still hasn’t worked?! I worked since 14. (Well 12 when count babysitting) And all kids should. Not saying FT by any means. One of the most important things to teach is independence and to work hard! Sorry about the loss of his dad though, heart breaks for that ❤
Christy - do not sacrifice your retirement and future on the altar of your son's college. It is the last degree that counts for a pedigree. If he is as gifted as you say, then he likely will go for a graduate degree. Doing very well at a lower cost college in undergrad will still likely earn him an option at a select university for a grad degree. Ken and George, working more is not always a solution if a student is on financial aid. Are you aware that the more a student earns, the more the financial aid goes down? The financial aid formula takes a higher percentage of a student's assets than of the parents' assets. In addition, just because the cost is what it is for freshman year does NOT mean it will be the cost for subsequent years. Colleges are generally more generous for freshmen to attract them and those grants are not necessarily renewable for all four years. Yes, the son is gifted. SO IS EVERYONE ELSE WHO GOT ACCEPTED AT THAT UNIVERSITY! RS personalities are not always the best on higher education advice and neither of these guys are MIT experts - keep that in mind. Ken will find out the realities once his kids are actually IN college (if that is their choice.) And, at least Ken is admitting that he is not in the MIT camp. If your son chooses a less expensive route for his first degree, be sure he applies to be in the HONORS college which will put him in more challenging courses with contact with the most gifted students and also be a real plus on his transcript. You want him with other gifted students as well as with the most challenging professors and courses so he doesn't get bored with routine classes.
Their basic idea is to save 15% of your gross once you are out of debt and have an emergency fund. They want people to invest in quality mutual funds. That's about it for the "free" advice you're going to get on this show. They do not recommend specific funds (which could get them in trouble) and for anyone who needs specific advice, they recommend hiring one of their SmartVestor pros.
George and Ken I love listening you guys and the great advice you generally give. but have a question. I was listening to the podcast and I think it was the 3rd hour you had a guy from Boston who said he was a net worth millionaire but then proceeded to lay out the debt he had in mortgages, HELOC, student loans etc. While I get being encouraging, at the same time this guy was not a net worth millionaire. His portfolio was worth approx that but he owes money. Additionally he appeared to think the 1k emergency fund was what you recommended. I kind of feel he was being Davish and you were a bit blinded by his opening statement of ‘I’m a net worth millionaire……..’ With Dave and Jade I feel they come back to the baby steps each time and walk it through and wonder if you missed a trick?
At 1:30 guy makes $225,000 a year and they told him to sell his rental that’s cash positive, with equity, that he only owed $40,000 on. Wtf. This is bad advice. Just pay off the rental and there’s pure income. This is a given
Easy. Spend every cent. And most of America does just that. Half of Americans cannot put their hands on $1,000 in the event of an emergency. When we were younger and just starting out my friend, who was a spender, worked for a bank that had various levels of loans (called "financial products") at various interest rates, One day several decades ago now an attorney came in and he was making six figures - a good sum several decades back - and had so maxed out all his lines of credit that he had to take the top interest rate just to get another loan of $1,000 (even though he had three cards, including a Mercedes!) That cured her. Over coffee the next day she told me that she had realized that if she couldn't make it on six figures and still needed a $1,000 loan, then she'd never make enough! She started reducing her spending and starting a nest egg. Sometimes people need a wake up call.
Please know that there are certain areas that require a certain credit score. A bank in Maryland took a Wells Fargo to court for their discriminatory practices, for requiring a certain group of people to provide more proof of income, higher credit scores etc. than many others. This is a response to the lady who wants to buy a house
George- you can’t let Ken ramble. That MIT call gave me anxiety. You never asked about their budget or income or monthly expenses. Ken rambled about this dad working side hustles while being on call for the railroad? Come on man it’s infuriating.
Actually, neither of these two was qualified to answer the question because the RS personalities are very weak in addressing financial aspects of colleges, especial for medical training, cohort classes, and select universities. Most of their "advice" is targets to state or private colleges that are not among the most selective. Both of them were clearly out of their league trying to help the Mom make decisions for an MIT future student. MIT has its own financial aid process, limits, and what is offered to an entry student is not the same as what might be the same in future years. If their son is going there, this family would be well-served to spend some extra money and get a GOOD college financial planner who is used to working with these kinds of students and schools. There is an excellent one online who also does private counseling. Unfortunately, I can't give her name because that would be classified as "advertising" and my comment would be deleted.
These two along with Dave and his daughter are my favorites. Jade is growing on me in spite of my struggles with her people. Dr. John is a poop stirrer.
If a child makes the decision not to attend a college they are given a full-ride scholarship, I would make them put some skin in the game and pay for part of it or a majority of their schooling.
Indeed! Sometimes they need to think through the standard party lines they give which are generally the same: get on a budget with every dollar, cut up credit cards, work extra jobs, sell expensive cars, and get on the road to paying off all your debt so you can save. Nothing wrong with any of this, but some situations in life require a little more nuance, and raising kids who are athletic is one of those.
@@GeorgeKamelwe never allowed our sons to do two sports at a time, but it wasn't for financial reasons. It was a lesson for them to learn to make choices, and it was mostly so we weren't scheduling our lives around over scheduled kids.
Maybe so, but the advice K & G gave was just as annoying and off track as they obviously have no idea about the intricacies of financial aid for college, especially for select universities like MIT. The RS people need to stay away from giving advice about college planning OR hire someone who knows a whole lot more about how to do college effectively and cheaply and what the pitfalls are for selecting a prestigious university in addition to just student loans. At the present time, fewer than 50% of entering college freshmen finish in 6 years or less - and it's not always about money. Frequently, it's because they can't figure out the level of planning necessary to get a fairly complex process done (unless a student is picking a pretty easy and common major course of study.)
Call from Vicky - I thought the RS people threw a HELOC into one of the later steps, at least that's what I heard on another show. George, cut up the cards but do NOT close the accounts until they are all paid off. Credit utilization will go up and SO WILL THE INTEREST RATE until they are paid. Paid off cards makes the credit utilization go down if the cards are still open. and the interest rate can drop and you have more bargaining power to ask for a lower interest rate until all are paid off. Surely, you know this!
According to Dave, HELOCs get put into different steps based on loan balance compared to income. Under half of income, step two. Over half of income, step six. You may also have heard something different. Jade has messed up Dave’s criteria on air more than once by comparing HELOC balance to mortgage balance and/or home value.
Single stocks are risky? Do you really think and S&P 500 Fund would perform better in the event of a terrorist attack or a nuclear war? Ha! I buy only single stocks and have zero regrets.
Dave R. Is odd. HE brags about how wealthy he is and he sure is wealthy. Yet, he talks about religion & money (red flag). Yet, he calls people in some legal legitimate businesses, like permanent life insurance, bad names because they market a product he hates. He calls them name’s and he never met them 🤪 OMG
A millionaire by the time you retire? Seriously? I bought my first house 20 years ago. It cost $155,000. The current value is $560000... in 20 years, it has quadrupled in value. It's still another 20 years until I retire. Assuming similar rate of growth, the house will be worth about $2.2 million by then. So a million then would be the equivalent of about $250,000 today.... not enough to retire on and in fact, nowhere near. If there was phenomenal gains between now and then with zero inflation, then sure, that might work - but in reality, the value of your $1,000,000 will drop exponentially by then, so that you'll actually be no better off than you would be now with just $250,000. Does this sound like being 'rich' to you?
This is true, but the leap from 1MM to 2MM is exponentially (literally) faster than from say 100K to 1MM. People need an aiming point, you have to hit $1MM to hit $10MM.
Your real estate appreciated because the demand for housing has passed the supply tenfold. It’s completely unrelated to inflation. Majority of folks don’t have a cent in retirement so yea even ifs equivalent to 250k you are significantly better off
So true, the erosion of our purchasing power via inflation is going to destroy all of our retirements! I plan on working well into 70's or as long as I mentally can (I do online white collar work). The destruction of our futures is very sad, the Republicans sold us down the river by abandoning fiscal conservatism and joining with the leftists!
@@Trustbutverify2651Not sure where you get Ken has a lot of life experience- he really doesn’t. He’s didn’t go to college for long, and has had no career outside Ramsey. The most realistic guy on Ramsey is 100% Dr. John Delony. I don’t care if you don’t like him it’s just the truth. He’s worked as a teacher (HS, elementary, and college prof), Dean of students, counselor, crisis responder with the police department. Has the most education 2 PhD’s, a master, and a bachelors degree in psych among many other certificates including one from Harvard. Ken is definitely NOT the most realistic person on this show and that’s not bashing his character at all that’s just factually the truth.
Ken, seriously? Who ever said a credit score is the key to a better life as you seem to think people say? And it really isn't necessary to keep reminding people of all the books that RS folks have written.
I know RS tells people to put in every dollar in advance of the month. But that does not work well when you're starting out and I think that's the reason people give up on it. Enter your pay. Enter your fixed expenses. Then you will see a figure at the top that shows what you have left for the month. In the course of the month something will come along that you completely forgot about - so you can enter that in the budget at that point. For example, March is the month when people usually pay to register for kids' summer camps - but you may not be thinking of that when you already have entered every dollar in the budget and then you get the email. So, enter in items as you spend down what is left. That will also cause you to think, "Do I really need that this month, or can I wait until next month and put it in the budget then?" Do that for several months until you get a realistic handle on how much you spend for each category for each month and THEN you can set the categories in a realistic way. A valuable aspect of Every Dollar is that once you have used it for a year, it allows you to see what bills you had for that month last year (although it is depressing to see how much prices have gone up!.) Personally, I do not use the automated features - I like entering in every dollar we spend manually. Even if you don't get premium, the categories roll over from one month to the next. I know a lot of people like quarterly or annual payments because they are slightly cheaper, but for someone who has never budgeted, it's more helpful to pay everything on a monthly basis for the very small extra cost until they learn to budget in the more complicated sinking funds for later expenses (which can be real surprises until you learn to think longer term.)
Been married 20 years…best decision my husband and I ever made was taking the $25,000 that my parents set aside for a wedding…putting $18,000 on our first home and the balance on our wedding (which was really just a party for our guests)! We kept it simple and don’t regret a thing…we’re now baby step millionaires!! Great advice, Ken! (And George!)
Good for you! Common sense is, unfortunately, not too common!
A wedding is very beautiful to attend but it is not devoid of a lot of meltdowns, regrets, prices that are way too high for dresses and suits etcetera as well as having a hall of grandeur with plating that rivals a five-star menu that ultimately would not fill the belly of the guests as it would be play did and stacked and have beautiful decorations of which are inedible.... And second helpings are unheard of as they don't exist! A party for a few guests that are very close to you and mean the world to you is the way to go! Few people really get that these days, they want the ceremony and the grandeur!
@@cookshackcuisinista So true - and then so many of them who want only the grand parties are divorced less than five years later (and still paying the bills!)
The best move you ever made involved someone else giving you money, okkkk
$25,000 20 years ago is like $60-75,000 today. That was great you had someone to give you a leg up, that is my goal for my nieces and nephews. Good job staying the course and building from there.
George and Ken are hilarious as a duo. It's like watching a younger and older brother having a clash of opinions. Very entertaining. 😂
True! And they both have different ways of spending money, both valid.
Ken and George are seamless together, such a great combo 👏👏👏
This is a great duo...very clear thinkers sprinkled with humor.
George and Ken - my favorite duo.
Love these two together, they are hilarious! Also love Jade and Rachel together, they are so supportive and considerate of each other on the show. I’m hooked!
I like the Ken and George shows
14:10 the "proactive" vs "reactive" question Ken asked was key here. Many of us could stand to benefit from asking ourselves that very same thing.
One of the best Ramsey shows I ever watched. Love the camaraderie between George and Ken!! Keep it up!
These 2 needs a TH-cam channel together !! I will watch it alll day lmaoo 😂they the best!!
Ken did a good job today of trying to provide the empathy and tough love that Uncle Dave provides. Sometimes, it feels like there is a piece missing with the personalities.. but I was impressed today.
Ken often steps back and says, "Wait a minute..." It's because he's a little older than some of the others who will find that life just might get in the way of their theories sometimes. I have a brother who used to have a sign in their bathroom that read, "I once had no kids and three theories about child raising. Now I have three kids and no theories." All of his three kids were - I shall be kind - very "active." Now, thankfully, all three have turned into very successful and thoughtful adults.
Jade isn’t afraid to give tough love either though.
@@tarahclubb4243 Nobody is saying Jade isn't competent just because someone is giving another host a compliment. This is not a competition - and Jade wasn't even on the show today. People are commenting on the two hosts who were and the advice they gave.
@tarahclubb4243 Jade is one of my favorites, so I agree. They all do a great job, but Dave really displays a special mix of wisdom, tough love, and empathy without even trying.
@@Moonbeams_SweetDreams I think that is definitely because he has lived a lot more life with its ups and downs and the "system" comes from his own life experience. The others try very hard to parrot the steps and ideas because they know they will work, but it's not the same as the original creator of the show and the ideas. They are all getting used to having a video show, too, which is quite different from the radio show that Dave devised when he was the only host for so many years.
Brooke - Focus on the marriage, not just the wedding. This is not the time to pay back every social debt both families have. Get creative. The two best weddings I ever attended were a) a Hallowe'en wedding where everyone came in costume, including the bride and groom - and they bought all the decorations half price the previous year, and b) an outdoor bonfire barbeque at a local park with hot dogs and hamburgers. There are lots of ways to save on weddings - and remember that if you pick a holiday time, churches and venues will already be beautifully decorated!
Es una buena idea!!!
George, it seems to me that CARS are as much of a problem as food - but there's NO QUESTION that stopping eating out and starting to cook at home, especially by shopping in bargain stores and sales, can save SO much money. But it does take being proactive - cut up vegetables in advance; cook double batches so you can pull something out of the freezer when you're over tired, make as much as you can in advance on the weekend, etc. The prep work is what takes the time during the week. Make and save a meatloaf to cook one night. Get a deli chicken from Sams for $5 and cut it up for stir fry, those kinds of things. Also, a lot of families are wasting money on disposables like plastic ups, paper plates, etc.
It is funny to hear people talk about throwing money away by renting but they have credit cards and loans on cars. Paying interest.
Well atleast they got something. Renting is 100% interest for ever.
@@WhiteSandsMbunatrue... and a depreciating asset like a trailer is better than no asset
Yes, Sarah - exactly what I was talking about in making the budget - better to leave margin at the top of Every Dollar and enter in categories as you spend down until you get a handle on what the expenses each month will be. It's very difficult to do a budget as a family unless you bring the kids INTO the discussion and family planning with the budget. George will find out how tricky this is when his children get older. Life has a way of making parents eat their words! Ken, it's also much more difficult to have those conversations with sons as a Mom than as a Dad because kids listen to Dads more. And, Sarah, if you don't get your son straight financially, much more expensive years are ahead! The most important task any parent has is to make sure the kids can survive without us, because one day they will have to!
Yes $500 = 0. That will give you some peace that you won't over draw
Matt, the former accountant, now baker, already called in on the show a few weeks back. Dave addressed his issues.
Ken and George are my absolute faves!
Great team. Listening to Ramsey always gives hope and wisdom
Love the banter between these two 😂
Did George just say 10 bucks for a baseball bat? 😂😂😂. You guys are great. That literally made me laugh out loud. Baseball parents will get it.
Good slogan for getting out of debt: Use it up. wear it out, make it do, or do without.
Mam how much do you earn? Plz reply. Thanks a lot.
@@gourabsarker9552 I am comfortably retired, but working part-time because I needed something to do. I didn't really like not working! Why are you always asking the commenters how much they make?
Agree with Ken on the wedding. We spent $5K back in 2013. Weddings do not have to be expensive. You just may have to do some things yourself.
I realoy enjoy ken and George. They both have such genuine good character. It's refreshing
What Ken does not realize that hunting costs money besides the gear. Usually you need to buy a tag for the deer or moose, you need to travel to an area where that is allowed, you must pay for gas and food and hotels, you need to bring the animal to an abattoir to have it cut up unless he plans to cut it up himself on his kitchen table. I would never recommend that. When I was a child my Dad use to do this. Its a big mess with blood everywhere. The cost per pound ends up even more for the meat. Purchasing a share with a friend of a beef and pig is way cheaper. Especially if you can buy it direct from the farmer. And if you know a natural farmer who raises grass fed beef, the meat will be way more healthy. You can use hunting and fishing as a vacation but it’s expensive. We lived 80 miles north of a town and frequently had Americans come and stay with us to fish and hunt. The total even when they slept on our floor cost them a fortune. From gas to food, the fish ended up costing hundreds of dollars per pound. Call it a vacation but never say your going to get fish and venison cheaper because it’s not.
So true - in every respect. (And that's why I like reading the comments from people with real experience, rather than just reading shout-outs to various favorite hosts.) I was on the plane going to Iowa once and apparently the northern part of Iowa is one of the best hunting areas in the country for deer (and the guy sitting beside me smelled like it, too!) I learned a lot about hunting on that trip conversing with him. He told me that he hunts there every year with 5 other friends and the venison they leave provides the meat for 28 families (grain farmers) in the area for the winter. Now that's a good cause! When we came back from our two trips to Alaska the fishermen on the plane had these special sealed coolers of the fish they had caught - but they all said the costs of the trip and permits meant eating their salmon later was like eating gold!
@@Trustbutverify2651 Exactly.
Jade is my favorite personality on this show but this is my favorite duo .
Great show...George and Ken never disappoint.
Especially on a Friday!
I am sure that this duo comes across completely differently on video than on the radio - these are video guys!
I’m pretty sure Matt- the Question of the day- was a previous caller in a recent show…
You are correct, it was. So, in essence, a total waste of time on today's show. A new, different question could and should have been addressed.
Ken, I'm in the same boat with taxes. One flat tax. We can focus that on local and cut unnecessary spending.
Personally, I'm for a flat consumption tax on new spending for all goods and services with the exceptions being food and medical/dental/pharmacy, etc.. I know it's not popular, but virtually everything you can buy new, you can also buy second-hand at a lower price. Folks moan about how they have "no money," but what I see are packed restaurants, tattoos and fancy hairdos, name brand clothes and sneakers, expensive phones and digital devices, and very few older cars. If we only had taxes on new consumption and services (at the federal level), we would do a lot more recycling (and save land fills) and we would also have all those working under the table (drugs, prostitution, off the grid cash paying jobs, etc) paying into the system because a lot of new consumption is done by those living under the radar. We could still have state and local taxes decided by each locality, depending on their situation. As long as you have any other system, there are a LOT of people not paying in and not declaring. No deductions, no credits - very simple and you'd find out exactly how much money is out there in the economy that is not being reported because the American economy is 70% new consumption.
Ken seems like a very good hearted man/person
1:01:14....Why wouldn't you ask what it was invested in? And when would it no longer be taxed at ordinary incoming?
At which point it would make more sense to do the withdrawal and then pay off the mortgage. Genuine question.
George and Ken my favorite combo! Part financial advice, part comedy show 😂
The thing is, no bank is going to give you an 11% or 10% interest rate. you should use practical examples.
How about 0% from the bank... don't borrow.
Hey guys,
George and Ken are incredibly awesome!
Thanks for all you do.
Gil (in Downey, CA)
My Fav personalities 1. Dave 2. Jade 3. George 4. Ken 5. Rachel 6. Dr. Delony
lol and you’re complaining you want a personality with more empathy yet you put Delony at the bottom. Umm he is literally the most empathetic guy. His work as a counselor trained him to be that way! I can’t understand how you don’t like Delony especially since you want someone who is more empathetic… that makes no sense to me?
@flashthecorgi2053 Delony IMO can be a bit intense sometimes, but l saw him on a different channel in a conversation with Rachel and OMG HE WAS AMAZING!!Truly empathetic. Different shows bring out different aspects of each of the crew.
@@flashthecorgi2053 Field bulletin: Other commenters are permitted to have an opinion that differs from yours.
@flashthecorgi2053 I wasn't complaining, just giving an opinion. It's just a personal preference.
@@Moonbeams_SweetDreams You said in one of your previous comment (not this thread) that you feel “some of the personalities lack empathy” and I was like WHAT??? And then you post Delony being at the bottom on your least favorites list which is your opinion but I figured that meant you think he lacks empathy which is SO untrue. Delony’s the most empathetic, kind, loving guy there is so I’m very confused how you can’t like him when you want a personality with more empathy?
To the woman calling in about the sports fees... I had 4 teens at once, all within 5 years of age, so we got hit fast & hard. We budgeted for "kids' sports & activities" every year. What we spent it on changed each year, but we always had a general fund.
The only 3 people in the country who got a mortgage without a credit score telling everyone not to worry about credit
I'm sorry to hear you have a credit score
Taxation is extortion.
What would you like the comment section to do about this?
anyone else getting 10% ? Where do I find that return?
With Keith's situation i bet there is a bit of "treat yourself" lifestyle because of all of the stuff they have to do in general taking care of the parents.
These guys are funny! Good entertainment!
54:30 Matt (the Question of the Day) must not have liked Dave's answer when he, Matt, called in a few nonths back with the EXACT SAME QUESTION. Too bad someone in admin didn't catch this, as the time wasted to answer this repeat question today could have been better served answering a new, different question.
A POSSIBLE defense (for Matt): he could have submitted the written question before he called the show.
I have definitely heard this question of the day on the show before
The question of the day sounds like a caller from a few months ago.
I started working when I was 14. Being a senior in HS and never having worked is foreign to me.
Jeopardy silence😂❤😂❤... Ken u crack me up
Great duo
Dear Mr. Ramsey, I need help with my finances and taxes and would love to have you look at my financial situation. Could you please help?
Ken really went all Jerry Seinfeld at the end of the last segment about the wedding budget
🤣And one of the things I appreciate about Ken is that he doesn't pretend to know it all and have a quick answer for every problem.
I spit my water out with “I’m an indoor cat” 😂
George... Bitcoin up 249% over the past year and up 1700% over the past 5 years. Its been a great long-term investment. 🐒
Yes, my oldest is only 8, but since she was 5 and started to have interests, i asked in advance if this year she was doing either this or this. Pushing the idea she can pick one lol and from that point i would save to prepare. She did gymnastics from 4 to 6, and then decided she wanted to do dance, which she still does. I already asked her if she plans to do dance again next year or something else lol. I am not breaking my back to pay for fifty-leven things!
Where should I invest in Sydney Australia? Thank you
A lot of good conversation but even a CD gives only 5% right now… what am I missing?
They're living in a different universe. 11% no way Jose! A lot of BS.😮
Love it!! Good entertainment
The son who is a senior and still hasn’t worked?! I worked since 14. (Well 12 when count babysitting) And all kids should. Not saying FT by any means. One of the most important things to teach is independence and to work hard! Sorry about the loss of his dad though, heart breaks for that ❤
Nope, didn't work til 23 and I am now 29 and doing just fine and got to enjoy life young and happy and not working my youth away lol
Great combo. 👏 🙌 👏 🙌
Christy - do not sacrifice your retirement and future on the altar of your son's college. It is the last degree that counts for a pedigree. If he is as gifted as you say, then he likely will go for a graduate degree. Doing very well at a lower cost college in undergrad will still likely earn him an option at a select university for a grad degree. Ken and George, working more is not always a solution if a student is on financial aid. Are you aware that the more a student earns, the more the financial aid goes down? The financial aid formula takes a higher percentage of a student's assets than of the parents' assets. In addition, just because the cost is what it is for freshman year does NOT mean it will be the cost for subsequent years. Colleges are generally more generous for freshmen to attract them and those grants are not necessarily renewable for all four years. Yes, the son is gifted. SO IS EVERYONE ELSE WHO GOT ACCEPTED AT THAT UNIVERSITY! RS personalities are not always the best on higher education advice and neither of these guys are MIT experts - keep that in mind. Ken will find out the realities once his kids are actually IN college (if that is their choice.) And, at least Ken is admitting that he is not in the MIT camp. If your son chooses a less expensive route for his first degree, be sure he applies to be in the HONORS college which will put him in more challenging courses with contact with the most gifted students and also be a real plus on his transcript. You want him with other gifted students as well as with the most challenging professors and courses so he doesn't get bored with routine classes.
More on retirement savings please!
Their basic idea is to save 15% of your gross once you are out of debt and have an emergency fund. They want people to invest in quality mutual funds. That's about it for the "free" advice you're going to get on this show. They do not recommend specific funds (which could get them in trouble) and for anyone who needs specific advice, they recommend hiring one of their SmartVestor pros.
Go listen to The Money Guys for that.
George and Ken I love listening you guys and the great advice you generally give. but have a question. I was listening to the podcast and I think it was the 3rd hour you had a guy from Boston who said he was a net worth millionaire but then proceeded to lay out the debt he had in mortgages, HELOC, student loans etc. While I get being encouraging, at the same time this guy was not a net worth millionaire. His portfolio was worth approx that but he owes money. Additionally he appeared to think the 1k emergency fund was what you recommended. I kind of feel he was being Davish and you were a bit blinded by his opening statement of ‘I’m a net worth millionaire……..’ With Dave and Jade I feel they come back to the baby steps each time and walk it through and wonder if you missed a trick?
Sarah’s may be setting her son up for some serious disappointment when he soon becomes an adult. From 1 mom to another- Good luck!❤
I love George. He just said a baseball bat was $10. My son is 6 and we just got him a used Marucci and it was $65. I was appalled.
For the mom talking about her son getting into MIT why couldn’t he just go to a school that gives him a full ride ?
What a lot of people need this time of year is more TAX advice.
OMG…..Kieth from Cedar Rapids is a space cadet.
I died laughing when he said when the chu chu calls I am out. 😂😂😂
At 1:30 guy makes $225,000 a year and they told him to sell his rental that’s cash positive, with equity, that he only owed $40,000 on. Wtf. This is bad advice. Just pay off the rental and there’s pure income. This is a given
Keith from IA: How can you not save $1000 when you make $140k a year?
Easy. Spend every cent. And most of America does just that. Half of Americans cannot put their hands on $1,000 in the event of an emergency. When we were younger and just starting out my friend, who was a spender, worked for a bank that had various levels of loans (called "financial products") at various interest rates, One day several decades ago now an attorney came in and he was making six figures - a good sum several decades back - and had so maxed out all his lines of credit that he had to take the top interest rate just to get another loan of $1,000 (even though he had three cards, including a Mercedes!) That cured her. Over coffee the next day she told me that she had realized that if she couldn't make it on six figures and still needed a $1,000 loan, then she'd never make enough! She started reducing her spending and starting a nest egg. Sometimes people need a wake up call.
Please know that there are certain areas that require a certain credit score. A bank in Maryland took a Wells Fargo to court for their discriminatory practices, for requiring a certain group of people to provide more proof of income, higher credit scores etc. than many others. This is a response to the lady who wants to buy a house
George- you can’t let Ken ramble. That MIT call gave me anxiety. You never asked about their budget or income or monthly expenses. Ken rambled about this dad working side hustles while being on call for the railroad? Come on man it’s infuriating.
Actually, neither of these two was qualified to answer the question because the RS personalities are very weak in addressing financial aspects of colleges, especial for medical training, cohort classes, and select universities. Most of their "advice" is targets to state or private colleges that are not among the most selective. Both of them were clearly out of their league trying to help the Mom make decisions for an MIT future student. MIT has its own financial aid process, limits, and what is offered to an entry student is not the same as what might be the same in future years. If their son is going there, this family would be well-served to spend some extra money and get a GOOD college financial planner who is used to working with these kinds of students and schools. There is an excellent one online who also does private counseling. Unfortunately, I can't give her name because that would be classified as "advertising" and my comment would be deleted.
These two along with Dave and his daughter are my favorites. Jade is growing on me in spite of my struggles with her people. Dr. John is a poop stirrer.
Her people?
Her people? What a weird, racist thing to say
George is book is great
Still waiting for them to make the background screen 1 single screen without all these seems.
I miss the Dave Ramsey show.
Lol! These guys are funny! Lol! Entertaining!
Kamel Kamel Kamel!!!
15k for a wedding venue is ridiculous. I was married where Will and Jada Smith were married and it was only 3k
Mutual funds??? sooo Dave tell us WHICH ONES!!!! make 10%!!!🎉 NAME THEM!😠 so we all can become rich!🥳
My family has millions in real estate rental properties.
I’ve been saving $50 a week. I am wondering if I should save $100 a month and invest the other $100
If a child makes the decision not to attend a college they are given a full-ride scholarship, I would make them put some skin in the game and pay for part of it or a majority of their schooling.
1:18:57 Ken actually looks like the man in the yellow hat.
George!
The senior boy who is playing baseball and running track will not have any time for a job.
Indeed! Sometimes they need to think through the standard party lines they give which are generally the same: get on a budget with every dollar, cut up credit cards, work extra jobs, sell expensive cars, and get on the road to paying off all your debt so you can save. Nothing wrong with any of this, but some situations in life require a little more nuance, and raising kids who are athletic is one of those.
Maybe he doesn’t need to do two sports this semester.
@@GeorgeKamelwe never allowed our sons to do two sports at a time, but it wasn't for financial reasons. It was a lesson for them to learn to make choices, and it was mostly so we weren't scheduling our lives around over scheduled kids.
Are you worried anymore? 😂
Nooo!
Ahhh 😅
Locking up your money and becoming a millionaire at the end of your life. Yeah f that
Ugh. The MIT mom was so annoying
Maybe so, but the advice K & G gave was just as annoying and off track as they obviously have no idea about the intricacies of financial aid for college, especially for select universities like MIT. The RS people need to stay away from giving advice about college planning OR hire someone who knows a whole lot more about how to do college effectively and cheaply and what the pitfalls are for selecting a prestigious university in addition to just student loans. At the present time, fewer than 50% of entering college freshmen finish in 6 years or less - and it's not always about money. Frequently, it's because they can't figure out the level of planning necessary to get a fairly complex process done (unless a student is picking a pretty easy and common major course of study.)
Sorry George, that accent was weak!
Call from Vicky - I thought the RS people threw a HELOC into one of the later steps, at least that's what I heard on another show. George, cut up the cards but do NOT close the accounts until they are all paid off. Credit utilization will go up and SO WILL THE INTEREST RATE until they are paid. Paid off cards makes the credit utilization go down if the cards are still open. and the interest rate can drop and you have more bargaining power to ask for a lower interest rate until all are paid off. Surely, you know this!
According to Dave, HELOCs get put into different steps based on loan balance compared to income. Under half of income, step two. Over half of income, step six.
You may also have heard something different. Jade has messed up Dave’s criteria on air more than once by comparing HELOC balance to mortgage balance and/or home value.
@@notgivingmyemail3381 Thanks - apparently I missed that part!
Single stocks are risky? Do you really think and S&P 500 Fund would perform better in the event of a terrorist attack or a nuclear war? Ha! I buy only single stocks and have zero regrets.
Can’t get over the people making $140 k who can’t save $1 k…whoa 😮little broke me could give ‘‘em a loan 😅
Where?.are people getting 11%? I got 5% on CD's for 7 months. TOTAL NONSENSE!!😮
Sorry 😢 the middle school crude humor didn’t work. Advice is adult and right on.
Dave R. Is odd. HE brags about how wealthy he is and he sure is wealthy. Yet, he talks about religion & money (red flag). Yet, he calls people in some legal legitimate businesses, like permanent life insurance, bad names because they market a product he hates. He calls them name’s and he never met them 🤪 OMG
A millionaire by the time you retire? Seriously? I bought my first house 20 years ago. It cost $155,000. The current value is $560000... in 20 years, it has quadrupled in value. It's still another 20 years until I retire. Assuming similar rate of growth, the house will be worth about $2.2 million by then. So a million then would be the equivalent of about $250,000 today.... not enough to retire on and in fact, nowhere near. If there was phenomenal gains between now and then with zero inflation, then sure, that might work - but in reality, the value of your $1,000,000 will drop exponentially by then, so that you'll actually be no better off than you would be now with just $250,000. Does this sound like being 'rich' to you?
This is true, but the leap from 1MM to 2MM is exponentially (literally) faster than from say 100K to 1MM. People need an aiming point, you have to hit $1MM to hit $10MM.
Your real estate appreciated because the demand for housing has passed the supply tenfold. It’s completely unrelated to inflation. Majority of folks don’t have a cent in retirement so yea even ifs equivalent to 250k you are significantly better off
@@ryanl3812 agreed. I used leverage and achieved an increase from 0 to 2.5 million in 25 years
@@tylermcnamee5863 agreed. But that is still inflation by definition.... Because the price inflated, whatever the reason.
So true, the erosion of our purchasing power via inflation is going to destroy all of our retirements!
I plan on working well into 70's or as long as I mentally can (I do online white collar work). The destruction of our futures is very sad, the Republicans sold us down the river by abandoning fiscal conservatism and joining with the leftists!
Get that teen prepared for life omg 😅😅 no shame just sayin
Ken always has such an odd vibe
Because he has real life experience - he's further along in the journey.
@@Trustbutverify2651 That has literally nothing to do with it.
@@CurtisJBergerJr It does for me - I find him the most realistic person on the show other than Dave.
And yet Dr. Delony is my least favorite personality.
@@Trustbutverify2651Not sure where you get Ken has a lot of life experience- he really doesn’t. He’s didn’t go to college for long, and has had no career outside Ramsey. The most realistic guy on Ramsey is 100% Dr. John Delony. I don’t care if you don’t like him it’s just the truth. He’s worked as a teacher (HS, elementary, and college prof), Dean of students, counselor, crisis responder with the police department. Has the most education 2 PhD’s, a master, and a bachelors degree in psych among many other certificates including one from Harvard. Ken is definitely NOT the most realistic person on this show and that’s not bashing his character at all that’s just factually the truth.
Ken, seriously? Who ever said a credit score is the key to a better life as you seem to think people say? And it really isn't necessary to keep reminding people of all the books that RS folks have written.
George - no need to be gross. We KNOW you will tell people to cut up their cards and that debt is pretty much the devil and you hate it.
I know RS tells people to put in every dollar in advance of the month. But that does not work well when you're starting out and I think that's the reason people give up on it. Enter your pay. Enter your fixed expenses. Then you will see a figure at the top that shows what you have left for the month. In the course of the month something will come along that you completely forgot about - so you can enter that in the budget at that point. For example, March is the month when people usually pay to register for kids' summer camps - but you may not be thinking of that when you already have entered every dollar in the budget and then you get the email. So, enter in items as you spend down what is left. That will also cause you to think, "Do I really need that this month, or can I wait until next month and put it in the budget then?" Do that for several months until you get a realistic handle on how much you spend for each category for each month and THEN you can set the categories in a realistic way. A valuable aspect of Every Dollar is that once you have used it for a year, it allows you to see what bills you had for that month last year (although it is depressing to see how much prices have gone up!.) Personally, I do not use the automated features - I like entering in every dollar we spend manually. Even if you don't get premium, the categories roll over from one month to the next. I know a lot of people like quarterly or annual payments because they are slightly cheaper, but for someone who has never budgeted, it's more helpful to pay everything on a monthly basis for the very small extra cost until they learn to budget in the more complicated sinking funds for later expenses (which can be real surprises until you learn to think longer term.)