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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 Potts Moving and Storage Studio, this is The Ramsey Show. It's where we help you win in your life, specifically your money, your relationships, and your work. The phone number is 888-825-5225, 888-825-5225. I'm Ken Coleman, joined by Dr. John Deloney. That's twice in a row. I can't get the doctor and the John today.
I'm just going to go John the rest of the show. That works for me. And no way to slight your hard work with two PhDs.
I'm unslighted.
Okay, good. Just call me John. Because I don't know what's happening.
It's this guy from the parking lot.
James, I can't say doctor and John at the same time. So we'll just keep on moving with that.
You can call me the joctor.
jockter i haven't been called jockter i like that that's actually great that's a term of endearment the guys in the class don't like it but it feels we're in charge they are not we're on the mic until they cut it off that's how that works katrina's up next in charlotte north carolina katrina how can we help hi thank you for taking my call you bet what's up so i uh just started fpu this week actually i'm on baby step number one um
Out of the $1,000, I just have $25, and I'm getting paid tomorrow, so I'm going to be able to add a lot more to it. However, I actually know that I need to make more money once I learned everything about the Dave Ramsey financial piece. My 35 annual income is low, so I learned I need to make more money.
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Chapter 2: Can I afford to move while on Baby Step 1?
Yeah, I wasn't even, this gives me a lot of clarity because there was a part of me that was like, I'm committing to this whole new financial thing and then now I'm getting interviews. I've gotten four this month and the pay, right now I get paid $1,750 and the increase goes up from $25 to $28 an hour.
So I know this is a blessing, and I don't want to turn it down, but I just felt like I was backtracking, like I decided this, and then now I'm doing bad, and I felt a little bit chaotic.
No, it's the opposite. You got on a plan, and the universe opened up a path for you that you didn't even know existed. Both Ken and I moved from where we had established families, where we lived, to a new city for a new position, and it's transformed our lives.
Okay, okay, so this is more positive. Then I shouldn't be so fearful.
It's off the charts positive. Don't be fearful at all. You're going to make more money. And here's the deal, though. Let me caution you on this because I'm the work guy. I've got to say this. Please don't just look at these opportunities as just a bigger paycheck.
The world is full of millions of people that changed jobs over the last two years, John, and they call it the great regret, who they took a bigger paycheck, but they got there and they realized, I like those people back there, or I like the position back there a little bit more. So what I'm saying is, don't just take it for the extra money.
I want you to make sure that the position itself, again, is a good fit for you. You can do the work, you've got the skill, and you enjoy it enough that Or it is a, I can do it, I think it's a good culture, good environment, and this is a ladder for me. If I do a good job for two years, I can see myself climbing a ladder and getting to where I ultimately want to be.
I don't want you just making the decision just for the paycheck, okay?
Okay.
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Chapter 3: What should I consider before relocating for a job?
Boston, Massachusetts is where we go next. Mel is there. Mel, how can we help?
Hello. Thank you for taking my call.
You bet.
I just have a quick question. I'm just in some debt and I just feel like At the end of the month, at the end of paying everything, I just had no money for myself. And, you know, I'm slowly paying it off and doing OT. It's not like I'm just doing my 40 and going home. It's just kind of like I'm putting in, you know, 32 hours of OT every two weeks. And I just feel like I never have enough money.
Okay. I just need some advice or some help. Sure.
Well, let's first start with asking you, what's your budgeting process like? Do you budget at all?
Yes, I actually did start last month. I took the whole month of June to kind of just see what I spend my money on. And I've noticed I spend a lot of money on food, like just eating out. And one good side about that, of doing that, is now I know I spend it on that. So now I'm being more conscious.
So you've only done this one month. So let me start by saying, We've told people for decades, it takes about 90 days, three months or so to just figure this thing out. So give yourself some grace as you're heading into month two. But what you're focusing on is how much am I short? Do you have an idea how short you are right now at the end of the month?
Well, usually I'm never really short. It's just kind of like at the end, it's kind of just like I'll have like, $200, $300, $400 for myself to spend on whatever I want. And I usually just end up putting that in a savings and then kind of just living with $200.
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Chapter 4: What are the psychological impacts of financial transitions?
We're going to send you a copy of that thing. You've got this. It's going to be wobbly. It's going to be a struggle. It's going to be a challenge. The one thing Ken and I would tell you is to make sure you've got some friends in your life, some people around you that will walk alongside you and help pick you up when you fall and scrape your knee, which you're going to do.
It's really true. You know, that's true in any transition of life where there's just a lot of uncertainty. Sometimes it's just nice to be in a place with people that you can be vulnerable with and go, I don't know how I'm going to get through tomorrow. Yeah. And then they go, you're fine. I know what I'm in my most pathetic and I'm around the right people.
They look at that pathetic voice and that pathetic posture or whatever I'm saying. And they just in a loving way go, uh, yeah.
snap out of it you know like you're gonna be okay and you need that you gotta have that yeah and um you also have to have people and this is gonna make us not popular on the twitter sphere oh boy um we just started live streaming i know we just started already gonna get in trouble all right You need some people... Let me say it this way. It's okay to be sad if you wreck your Lexus.
Yeah.
It's okay. And in a culture... Our culture is, oh yeah, oh yeah, it must be nice. No, it sucks. And it sucks if you have a life where you have a really nice home and you're married to somebody who's making a great salary and... then you separate from that and you're a single parent and you are lamenting on what was. You're allowed to do that.
In fact, we're going to sit with you because it's a bummer. Yes, millions of people don't have that. That doesn't mean it doesn't hurt, right? And if you skip over it and try to pretend like, oh, it's fine, get everybody, then your body's going to continue and continue and continue to try to solve for it.
So no matter where you are on the pecking order, whether you are struggling to find groceries or whether you used to have all the money in the world and now suddenly you don't, You got to sit in that reality and grieve it, man, as you transition.
I thought she said something that I found it to be heroic, given her situation and not being able to even understand what she's dealing with. But she said, I'm a little bit excited about, I'm kind of excited about being independent. I think she's actually in a really good place, given she's been through a lot right now.
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Chapter 5: How can I effectively budget after starting my financial journey?
Yeah.
Oh, yeah.
Okay. So there's plenty of work in mopping. So there's plenty of opportunity and you've cleared $8,000 or more before. Definitely. All right. So what are you questioning? Whether or not you should stay with this? Why are you questioning?
Or let me ask you this. Did you get into it and you're a year and a half into it and this just isn't the job for you?
So here's what happened. At this winter, I ended up, so I used to manage the hardware store right here. And so one of the companies actually reached out to me that I used to work with. And so I started working for them as a sales rep, an independent sales rep. So I don't have hours and I'm able to flex my time around. So I'm doing both.
Are you making good money doing sales? Do you like that more than being a construction manager?
Well, it's making like, I mean, I'll probably get like an $8,500 check. So I'm looking at that and how much time I spent. And then I look at like.
That's not the answer.
That's where I'm trying to decide if I should keep both.
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