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Chapter 1: What is the main topic discussed in this episode?
Live from the headquarters of Ramsey Solutions, broadcasting from the pods moving in storage studios, this is The Ramsey Show, where America hangs out to have a conversation about your life and your money. I'm George Campbell, joined by Ken Coleman this hour, and this is your show, America. Call in with your questions at 888-825-5225. Ken, moments ago, you were hosting The Ken Coleman Show.
What's on people's minds out there? The job seekers, the employees.
They're worried about inflation. It's a big thing. Am I making enough? I don't know if I'm making enough. I think they're certainly watching a lot of people leave jobs. We're still in this. This cycle right now, we're having over 4 million people a month change jobs. That hasn't slowed down. Unemployment rate is still low, but we saw that the Fed was going to do it. It came out.
The Fed raised it 75 basis points. So people are going, am I going to get laid off? They're really worried about that.
A lot of fear and uncertainty.
A lot of fear and uncertainty. Certainly people thinking about that, obviously, and people trying to make a decision. Should I leave now? We're always talking about that in the world at work. They're watching other harmful trends. Today we reported that there's a new trend where companies are actually advertising jobs. And they have no intention of actually filling those positions.
For a variety of reasons. They leave the positions open because they don't want to take them down. Nobody's thinking about it. Or they're trying to make the company look like they're doing very well, so it's a PR play. Or... they're actually not intending to hire. They're just maybe hoping a unicorn walks in. And if a unicorn walks in, then they'll go, oh, we'll hire you.
And so that's creating a lot of frustration for people who are looking for jobs and they're hearing crickets. So that's some of the stuff we're dealing with every day.
Well, if you've got a question for Ken in that space, you're going, hey, I think I want to switch careers. I'm at a crossroads. I've got a decision to make. I'm in a toxic workplace. Give us a call, 888-825-5225. I, of course, can help with any of your money questions, and that's what we're here to do. So let's get to the phones. Justice joins us in Tucson. Justice, welcome to the show.
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Chapter 2: How can I talk a friend out of taking student loans?
If I don't align on our basic values, that might be part of it. Well, good luck, my friend. Hang on the line. Austin will pick up. This is The Ramsey Show. I'm George Campbell. He's Ken Coleman. This is The Ramsey Show. Our question of the day comes from Blinds.com. Their 100% satisfaction guarantee means even if you mismeasure or pick the wrong color, they'll remake your blinds for free.
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Today's question comes from Logan in Arkansas. My wife and I are expecting our first child. but I'm looking at switching careers to go into the legal field. We are currently debt-free except our home and have a three-month emergency fund. My question is, should I delay going to law school full-time and continue to work so we do not go into debt or go to school part-time and pay as I go? Yes.
Well, you absolutely should not go full-time and go into debt. So delay, yes, or cash flow part-time. Both options work. And let me just tell you something. The legal work is going to be there. The legal field is going to keep on going, whether you're in it or not. And there's no reason to be urgent here. You don't want to go into this new field
And instead of being excited about this work that you've put a lot of time and effort into in the form of law school and the LSAT and all that stuff, and then be stinking dragging around that debt on your shoulders all day long. I would never go after the dream job that could be a nightmare because of the amount of money and stress And lack of margin and relationship tension that debt causes.
Wait. So either keep working and save up. But I actually like option two better. Yeah. I think it motivates us a little bit more when we're actively involved in it. So I'm taking one or two classes. and it's just incrementally getting me there, but I'm tasting it. And you might figure out, this ain't it. This isn't for me. It could, but that's a very interesting point.
Before I'd ever go into law school, I would spend time, I'm talking shadowing lawyers, and they'll let you do it, lunches with lawyers. I would be talking to as many lawyers as I possibly could before I ever committed to law school. Taste it. Smell it. See it. Try it. Get immersed in it. And I'm going to tell you what's going to happen.
Once you gather that experience, whether it be law school, medical school, or any kind of expensive school, once you experience enough of it, your heart will then confirm if, in fact, you should do it.
Well, the first sentence worries me a bit, Ken. He said, my wife and I are expecting our first child, but... And so we've got to figure out what this first child, you know, how that's going to go. We've got to stack up cash for the baby. I'm telling you how it's going to go.
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Chapter 3: When should I consider going to law school?
Love it. How can we help today?
A peach?
That's right.
Yeah, all right. I am currently in Baby Step 2. I make about $55,000 a year, and however, my work is very seasonal. I'm a flight instructor. So I've saved up about $4,000 over the course of the summer. And I'm wondering if I should put that towards my debt or if I should hold that off for like a rainy day when the winter comes since I'll be flying less in the wintertime.
My income drops about 60-ish percent in the winter.
Can you pick up another job in the wintertime when things are slow?
I actually currently have three jobs. And I do pick up, like, seasonal work in the wintertime that I could do, too.
But the income still drops even with the additional jobs?
It's just very hard for the jobs to schedule me because, like, if it's a good weather day, for example, like the middle of December, you know, I would make more money flying than I would, you know, at a, you know, packing boxes.
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