Dave Ramsey

I'm going to put the $130,000 with your mom and dad to limit the size of the mortgage, and then I'm going to go get a commercial mortgage, not from your parents.

Okay.

Because I don't want this mortgage.

I don't want you paying payments to your parents for any amount of money, for any amount of interest.

I don't think you're going to do that because I think you guys have worked out this detailed thing in all of your heads that this all works out to the point that you're ready to go to Europe instead of pay back.

Well, they're more fun because they don't follow you home.

But in essence, that's what this ends up being.

We're going to increase the amount we borrow from mom and dad by the amount that we spend on the trips.

And so it's like borrowing from mom and dad to go on a trip, and obviously that would be ludicrous.

So moms and dads, those of you that graduated from Financial Peace University with a better grade than that mom and dad got, which was an F, here's the rule, okay?

If you want to give your children some money and they pay cash for a house, and part of the bargain is they never borrow money again because you want your family tree to be completely changed, great.

Never make your child, your grown child, your slave...

You change your relationship with your daughter-in-law, your son-in-law.

You change the relationship in how you interact with each other.

It's just you're adding layers to it that are unintended, but they're very real.

And no one is the exception.

Even a nice master is a master.

Dr. John Deloney, Ramsey Personality, is my co-host today in the lobby of Ramsey Solutions on the debt-free stage.

Dima and Rhonda are with us.

Hey, guys, how are you?