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The Ramsey Show

Don’t Step Over a Dollar To Pick Up a Dime! (Hour 1)

10 Aug 2023

Transcription

Transcript generated automatically by AI and may contain errors.

Chapter 1: What is the main focus of The Ramsey Show?

27.79 - 46.167 Dave Ramsey

Live from the headquarters of Ramsey Solutions, broadcasting from the pods moving in storage studios. It's the Ramsey Show, where we help people build wealth. do work that they love, and create actual amazing relationships.

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46.187 - 70.759 Dave Ramsey

Dr. John Deloney, host of the Dr. John Deloney Show, number one best-selling author of the book Own Your Past, Change Your Future, is my co-host today as we talk about your life and your money. He has a brand-new book coming out called Building a Non-Anxious Life. We put it on sale, pre-sale. It comes out technically October 3rd. That's when we'll ship them. But it's on presale right now.

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70.799 - 81.155 Dave Ramsey

We're talking about it because we're giving you a bunch of extra bonus items to buy it now. In other words, we're going to bribe you to buy it early. And it's working because thousands of people have accepted the bribe.

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81.576 - 85.462 Dr. John Deloney

Hey, I will take it all the way to the bookstore, man. We'll bribe them away.

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85.702 - 105.119 Dave Ramsey

I'm telling you, building a non-anxious life. You know, there were so many subtitles that are possible, some of which are just humorous. But, yeah, building a non-anxious life in the most freaked out, stressed out, anxious-filled culture in the history of man. That would be a long subtitle. But, yeah, that's really kind of what we are.

105.16 - 107.865 Dave Ramsey

We're right in the middle of one of the worst weird times in human history.

107.845 - 120.982 Dr. John Deloney

It doesn't make any sense until you back out and say, oh, man, we've just created a world that our bodies can't live in. And the world's not going to change. It's going to keep going faster. And the only thing I can control is me. So I got to do something different.

121.543 - 133.679 Dave Ramsey

So I think the premise that you started talking about first was in redefining anxieties is that anxiety is not the problem. It's the alarm going off saying there's a problem.

133.859 - 134.46 Dr. John Deloney

That's right.

Chapter 2: How can I borrow from a trust to pay for school?

213.953 - 214.995 Dr. John Deloney

The pipes are running right.

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215.075 - 215.996 Dave Ramsey

Speaking of word choices.

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216.016 - 235.12 Dr. John Deloney

That's right. But it's not a matter of if. It will, right? I like to think of it like this. This is from our mutual friend, Will Godera. If you look at your life like a water glass... The lower you can keep that water in your glass throughout a day, when life hits you and dumps a bunch of water in it, you can hold it. You can hold it.

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235.661 - 253.691 Dr. John Deloney

But if you have no boundaries and a calendar that runs your life and your elementary school kids run your life and your soccer coach tells you what you're doing every weekend from here to the end of eternity. And your mother-in-law is still cooking dinner. That's exactly right. And a bank tells you what you're going to do tomorrow and you have to sit with an abusive boss. Your marriage is a wreck.

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253.711 - 260.882 Dr. John Deloney

You don't have any friends. Your glass is already brimming, and then when that thing happens, you scream at people and you hit somebody.

260.902 - 263.566 Dave Ramsey

And guess what? No amount of pharmaceuticals is going to make that go away.

264.968 - 274.242 Dr. John Deloney

No, it turns the noise down. It turns that alarm down so that I can go meet with a counselor and a pastor or say the things I need to say to my wife.

274.462 - 288.583 Dave Ramsey

So there is a time for pharmaceuticals, but if pharmaceuticals are only masking – the alarm. It's not actually giving you, you're not taking that opportunity then to fix it. Then it's kind of like the student loans being on pause and you don't go get them paid off while they're on pause.

288.603 - 296.057 Dr. John Deloney

I think that's a great analogy there. Yeah, you had this moment for three years. We have You had a chance. You had a chance. You had a shot.

Chapter 3: What should I consider when changing jobs?

370.076 - 389.978 Dave Ramsey

You can be done by Dr. John Deloney. Here's the thing. You got to get it. It's only $20, and we're going to throw in $75 worth of items, including instant access. to Dr. Deloney's newest talk, Smoke, Fire, and Freedom, that breaks down the mythology that we believe about anxiety and will help you start to reclaim your life right now.

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390.599 - 409.917 Dave Ramsey

And when the book comes out in October, we'll also ship you not only the book, but the e-book, the audio book of Building a Non-Anxious Life. Again, we've sold thousands of these already. Thank you very much for your response. We appreciate you. And so jump in there and go ahead and get it today at RamseySolutions.com.

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409.937 - 431.55 Dave Ramsey

And by the way, if you're a Dr. Deloney or a Ramsey fan or both, I'll let you know up front, this helps us because it helps the marketing. All of the sales prior to October 3rd count in the October 3rd week toward the bestseller list. Completely above board, legal. Everybody knows what we're doing. It's all fine. Pre-sales count in that regard. So the pre-sales help us a bunch with the marketing.

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432.411 - 452.405 Dave Ramsey

And so if you want to help us, go ahead and get it now, and we'll bribe you to do it. $20 book for $20, and you get $75 in free bonus items. Going to RamseySolutions.com. Building a non-anxious life. Look at that guy. Does he not look like, he looks not anxious to me, other than his sewer problem. But he looks, you know.

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452.605 - 462.51 Dr. John Deloney

I think when we took that photo. I mean, his house is sewer problem. I was quite anxious. I think that's when I was realizing, whoa, I need to go, I need to start following some of these things I'm teaching about. I need to read this book. Exactly.

462.49 - 485.325 Dave Ramsey

yeah that'll do it that'll do it well redefining anxiety the uh was a little 37 page uh kind of a chapter book we call them quick reads here that we put out and it sold 150 000 copies so i predict that this uh it's one of the things that led us to say hey john yeah and you said yeah this is what we need to do people need help in this area they need guidance in this area they need hope

485.305 - 506.173 Dr. John Deloney

Well, I really thought I did Redefining Anxiety during the middle of COVID. I thought that when the world opened back up, we'd all saw each other go bananas and we would come together. And the opposite has proven true. It's just we just started throwing matches at all the gasoline puddles. And so it's a mess. But I love that you said that. It's a book about hope, man.

506.754 - 508.576 Dr. John Deloney

I am pretty optimistic about what comes next.

508.917 - 530.203 Dave Ramsey

Absolutely. Absolutely. Building a non-anxious life, Dr. John Deloney at RamseySolutions.com. Hit the store, get the deal. This is The Ramsey Show. Dr. John Deloney, Ramsey personality, is my co-host today. Luna is in Salt Lake City, Utah. Hi, Luna. Welcome to The Ramsey Show.

Chapter 4: Should I prioritize saving or paying off my mortgage?

574.959 - 608.424

But I don't even make over like the threshold to make, you know, pay taxes. So I make next to nothing. My family all lives paycheck to paycheck. But the one saving grace here is like my grandparents, they have a trust and they say that I have 10% of it. when they die. And I'm wondering, like, is it possible to borrow from a trust or get it early? Or what, what can I do?

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608.464 - 613.39

Because I'm just looking to pay for my living expenses to college.

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615.833 - 617.996 Dave Ramsey

What were you doing before you went on this adventure?

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621.641 - 651.932

Um, I really tried to have a family life, but they, uh, they all kind of left but who's they your husband your kids yes i don't have any kids i've got cats but um yeah i i was married for a short time divorced but um my life kind of fell apart for a while and i put it back together and i finally have like a passion and a purpose and i'm

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652.385 - 666.104

Like I said, I've got a fire under my butt to go back to school and make something of myself. But I'm just, you know, there's not a lot of money out there for students unless you borrow, and that's not a good option.

667.205 - 676.918 Dr. John Deloney

Can I challenge something real quick? Yeah. You don't got to go make something of yourself. You already got worth right now.

680.063 - 680.383

Yeah.

680.65 - 693.795 Dr. John Deloney

Okay. And you got, I think that fire under your butt honestly is how burned you are because you looked at somebody and you said, I do. And he said, I do. And then he left.

695.739 - 702.692

Well, I mean, that's, that's not something that I'm really focusing on here in the future. That's kind of

Chapter 5: How can I manage anxiety related to finances?

883.307 - 886.952 Dr. John Deloney

And here's the thing. I'm so sorry. Here's the thing, sweetie.

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I'm pretty well balanced now.

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890.857 - 908.386 Dr. John Deloney

I've taught doctoral students. I've walked them through their dissertation. I've worked with law students. I've worked with medical students. I need you to hear what Dave's saying. That probably the greatest gift you could give yourself is to get a one, if not two jobs where you are working really close with animals because it's what you love.

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909.568 - 919.367 Dr. John Deloney

And do that hour in, hour out, day after day, week after week, month after month, and make sure you love this.

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919.347 - 930.599 Dave Ramsey

And for two or three years, and let yourself have some distance because the lady we're talking to is having trouble going through the conversation, much less through three years of vet school.

931.48 - 934.703 Dr. John Deloney

And this is two guys who both love our dogs. And we love you.

934.723 - 945.995 Dave Ramsey

We want great vets. We want you to win. I want you to win. I'm not trying to be a dream killer. I'm trying to be a nightmare killer. Yeah. And I got a feeling if your grandpa loves you and if he's wise, he will deny your request.

946.436 - 946.536

Yeah.

946.634 - 970.2 Dave Ramsey

Not because he's being mean, but because he's going to hear and see what we're hearing and seeing. That's my guess. Now, again, it's just a radio show. We've only talked to you for two minutes, honey. But you sound very hurt and very fresh and very raw in talking to you. And that's not saying you haven't done hard work already. But you've got some more healing to do is what it sounds like.

Chapter 6: What daily choices can improve my mental health?

1173.103 - 1177.958

Or is that something that, you know, just kind of comes with the process.

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1177.978 - 1185.853 Dave Ramsey

Well, if you make more money and there's not a gap, it's nothing but upside to changing jobs, right?

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1187.916 - 1203.175

Yeah, and that is true. Now, you know, I work in IT, specifically doing, you know, IQA work. A lot of those jobs, are typically contract, so they might not go past three or six months.

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1203.395 - 1205.498 Dave Ramsey

But are you doing contract now?

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1207.281 - 1212.188

I am, but this has been going on for over three and a half years. Why would you change?

1212.208 - 1216.855 Dave Ramsey

Why would you change from contract to contract?

1216.915 - 1219.178

Just for pay increase.

1219.198 - 1223.725 Dave Ramsey

Okay. Can you get a pay increase becoming a full-time team member instead of contract?

1225.156 - 1229.983

It depends. I mean, it really goes, I think, based off of the company and their needs at the time.

Chapter 7: How do I prepare for unexpected financial challenges?

1335.519 - 1359.972 Dr. John Deloney

That's exactly what that is. And, hey, it's really common, dude, for people who are new to the gang and good on the rabbit holes. that you start to see things that you've done wrong with money or that you realize that you are contributing to the chaos in your home. And one of the unforeseen results of that is you lose trust in yourself and you start to wonder, well, should I do this?

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1360.092 - 1379.966 Dr. John Deloney

And should I do this? So go back and just ask yourself the question, Should I just quit my job? Would that make me worried? Well, if you don't have any money, yes, that would make me worried. Like Dave said, if the contract is up in three weeks, yeah, that would make me worried. If it's changing for a great job or a six-month job, which is pretty far out there for a tech, cool, man.

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1380.447 - 1383.953 Dr. John Deloney

So just trust yourself. Even though you've made some mistakes with money, trust yourself.

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1383.933 - 1403.462 Dave Ramsey

Yeah, the beauty of where you are is you have realized something, even though you don't realize you realized it, is that your only security is your ability to land on your feet if something happens, meaning you're in a wonderful field that is very hot, and you should be able to land something. And that's great security.

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1403.803 - 1425.457 Dave Ramsey

So your security is not artificially some, my company is a big, wonderful company. That doesn't mean squat if they fire your butt tomorrow. So your security is really based in you. And you've already figured that out, sort of. And that's where your security is. So it's not in the length of the contract, but you use that to say, hey, it's a wonderful market. I'm in a wonderful field.

1425.477 - 1436.672 Dave Ramsey

I could make some more money. I'm going to do that in a wise way. And that's where you need to go with this. Steven is with us in Knoxville. Hi, Steven, and welcome to the Ramsey Show.

1437.633 - 1464.639 Dr. John Delony

Hi, Dave. Hey. I've got a question regarding CDs and money markets and paying down mortgage. Me and my wife, we're debt-free except for mortgage, and we like to pay down a little bit every year. But with the CD and money market rates at like 5, 5.25%, Our mortgage rate is at 2.75, and I want to see if it's okay to have money in CDs and money markets versus paying down at this time.

1465.541 - 1471.009 Dave Ramsey

Well, it's not illegal. It's certainly okay. How much is your mortgage?

1472.831 - 1475.135 Dr. John Delony

We have about $95,000 left on it.

Chapter 8: What resources are available for financial planning?

1651.516 - 1661.693 Dave Ramsey

You can take witch hazel and do a little dance under the moon. Just exercise and eat healthy food, man. Yeah, I know, but what about... Yeah, what about don't eat seven Big Macs?

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1661.833 - 1665.84 Dr. John Deloney

Pay your house off. Oh, there's that. Pay your house off. Oh, darn. Pay your house off.

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1666.1 - 1695.67 Dave Ramsey

Can't take a pill to get out of debt called Detanol. This is The Ramsey Show. So our producer James went through the archives, and a thousand years ago when Blake Thompson was producing this show, he actually did a comedy bit on Detanol. John thought I made that up just a few minutes ago, and I couldn't take credit for it because actually Blake made it up, and James found the old comedy bit.

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1695.73 - 1716.998 Dave Ramsey

Does it have a date on it? It doesn't, but I would believe early 2000s. It's got to be 20 plus years. Yeah. It's over 20 years ago. Easy. It was before there was color on TV, wasn't it? All right, here's from over 20 years ago what the Ramsey Show, then called the Dave Ramsey Show, might have sounded like.

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1718.142 - 1743.054 Dave Ramsey

Nationally syndicated talk radio host Dave Ramsey has often said that there is no magic pill for getting out of debt. Well, sorry, Mr. Ramsey, but there is. And it's called Detanol. Detanol is a 100% all-natural drug that is guaranteed to control your spending and control your desire to overspend. One pill a day, and you will no longer feel the need to spend money you don't have.

1743.855 - 1771.475 Dave Ramsey

We have created this drug because we care about you. Detanol, the pill that cares. Minor side effects may include fatigue, headache, nervousness, sore throat, explosive diarrhea, insomnia, drowsiness, horrible nightmares, gastronomical trauma, hallucinations. That rabbit just said my name. Chronic halitosis, a slight cough, and a runny nose.

1771.495 - 1778.154 Dave Ramsey

Detanol, brought to you by the Credit Card Association of America. Credit, the easy way out.

1778.174 - 1781.764 Dr. John Deloney

Oh, this show used to be so good, Dave. What happened?

1781.744 - 1809.718 Dave Ramsey

well we brought on co-hosts and got rid of blake the good old days you used to walk uphill both ways in the snow yeah that was probably done on a cassette tape actually i'm trying to think i know the voice well the voice on the uh disclaimers blake the other voice what i think was bill hampton is bill hampton yeah is it okay so yeah that's It's over 20 years then. It might be 25 years old.

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