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Chapter 1: What is discussed at the start of this section?
Live from the headquarters of Ramsey Solutions, this is The Ramsey Show. It's where we help you win in your life, specifically in your money, in your work, and in your relationships. I'm Ken Coleman. Jade Warshaw, my friend and colleague, joins me this hour. We're here to answer your questions. She'll be taking your money questions. I'll chime in.
I'll be taking any questions about personal growth in your work and do you want to get ahead and how to get ahead and managing this money journey alongside of that.
and jade will wade in on that as well the phone number for you to jump in is 888-825-5225 888-825-5225 i'll also say this i'll say a little bit more as we get closer to it but a special treat today and the clue is the word treat oh that's all i can say right now well i could say more i just don't want to don't give it away ken i'm not going to
Give it away, give it away, give it away now.
I was thinking that. Were you thinking that?
I was like, Anthony Kiedis told us to give it away, but don't give it away.
Love that. Let's get to the phones. Levi is up first in Tampa, Florida. Levi, how can we help? Levi. Uh-oh. I hit the button, I promise. I hit line one, so we're not getting Levi. This happens from time to time.
That's all right. We can keep it rolling.
I think James is going to help us out. Yeah, we hear you, Levi. Levi, what's going on?
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Chapter 2: What should I consider when refinancing my student loans?
That's far too long. I want this done in four years and you can do that.
Yeah, good stuff. Thanks for the call. Glad you joined our community. Stay with us. You will get through this. All right, we're just getting started, folks. Merry Christmas to one and all. Don't move. More of your calls coming up. This is The Ramsey Show. Welcome back to The Ramsey Show. Thrilled to have you with us. I'm Ken Coleman. Jade Warshaw joins me. And we are here for you, America.
888-825-5225 is the phone number. 888-825-5225. Take me to your questions about money. And I'm in the chair today, so let's take any questions about personal and professional growth, decisions about maybe starting a business, when do I go from side hustle to full-time, hey, I'm stuck, I need a promotion, I'm not getting it, any kind of work-related questions.
questions, because those are always money-related, and we'd love to take some of those as well. So jump in, 888-825-5225, and if you want to stay with us, it's kind of like, well, we're getting, this is like the, what, second to the last Friday of the year, am I right?
That feels right.
And you're kind of just like, I think I'll hang out today. You don't want to miss next hour.
jade has got another special treat i get to sample it there's another clue uh you're really hyping this up ken well you know i even broke out the cardigan today uh the new cardigan sweater you look like a schtickle of bourbon a schtickle that feels right i don't know what that is but that doesn't offend me at all it feels right let's get to steven in houston texas steven how can we help oh hi guys thanks for taking the call you bet what's going on
So I'm looking for some advice. Uh, uh, we just, me and my wife just recently, uh, got on the Ramsey plan while baby step two. Um, I'm a full-time high school teacher. Um, and I've taken, uh, taken a part-time EMS job when I'm out on, on vacation and, uh, on the weekends and stuff. And I do some food delivery, uh, to try to just pack as much money as we can to this debt.
But I'm, I'm afraid that, um, My wife's getting overwhelmed by it.
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Chapter 3: How do I approach budgeting for a new baby?
I mean, what do you think, Jade? I think that's a teamwork play.
That's a teamwork play.
Listen, I'm honoring all the moms out there because my wife has done both. Stacey has fluctuated between being a work out of the home and a work in the home. Notice I say work in the home because that's a lot of work. And there are times where it's really good, guys, for us to just acknowledge the partner in the situation. and say, hey, you know what? I appreciate you being on board.
I want to show some love here.
When you're going at that pace, you have to, ahead of time, say what the milestones are going to be. When we pay off this car, we get this. When we do this, and it sounds like they don't have those milestones in place, and that is so important.
You need a cheat day. You know these big-time athletes? That's right. I follow the rock.
no big deal you know i like those cheat meals have you seen the man's cheat meals it's pretty fantastic so even one of the greatest athletes actors you know get after guys in the world you got those down days i think mama needs a little little little time off every once in a while and you can fund that and then we keep going with great momentum stephen you're a good man and a good husband this is the ranji show
Welcome back to the Ramsey Show. I'm Ken Coleman. Jade Warshaw joins me in studio. We're here for you, America. 888-825-5225. 888-825-5225. Taking your money questions, your work questions. It's a good time to be thinking about next year, and we are here for you. The question of the day is brought to you by Neighborly, your hub for home services.
Neighborly has local service providers who can repair, maintain, and improve your home. Ladies, if you're married to a guy like me, you need Neighborly because I can't do Jack Diddley squat around the house. And that's why Stacey is happy for Neighborly. Their network of experts offer top quality work and customer service by trained, reliable service providers.
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Chapter 4: What are the best strategies for paying off debt quickly?
You're very you're very strong. And all of these things kind of sound like I told my husband we're doing this and I told him we're doing this. And you're kind of like dragging him by the collar. She got him like like the collar on the wall. You know what I'm saying? Yeah. And I think that might make him feel a little he might be feeling some type of way.
And maybe this is a way where he feels like he can get a little control back because, you know, sometimes relationships get to be a bit of a power struggle. And so this feels more about a power struggle than it really does about giving. I'm not going to lie. Just reading it. I may be wrong. Ken Coleman.
I think you're right. I think the language implies her attitude towards him. And you don't want to take too many liberties with just a one-sided email. But yeah, it feels like this is not a partnership. This is a dictatorship is what it feels like. And so I think you're right. The budget needs to be adapted to include the giving that you're talking about based on what we teach.
So I agree with you lockstep. Man, shoo.
I get it, though.
Money creates enough tension. Us telling the spouse how things are going to be, that doesn't lend itself to long-term financial partnerships.
It doesn't. And I mean, Sarah, hear me loud and clear. I have a Mr. T personality as well. Okay.
I pity the fool.
I pity the fool. I come in hot. Sam Warshaw, he can tell you right now, I come in hot. And so when I read that, I recognized that. And so sometimes we have to pull back a little bit. We stomp in the room. You know what I'm saying? We just chill out.
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Chapter 5: How can I effectively pay back a loan to my sister?
Alex, how can we help?
Yes, sir. Good afternoon. I owe my sister $20,000 that I would like to pay her back. Um, she loaned me his money earlier in the year and, uh, uh, when we invested the money, uh, it didn't pan out. So I was, uh, calling for your opinion on getting a loan. And if so, what wish would be the best out below? Okay, hold on a second.
Chapter 6: What should I do if my investment didn't pan out?
So you got your sister to give you $20,000 for some type of business investment.
What was the investment?
Yeah, what was it?
It was property, but it's out of the country. It's in Peru. Okay.
Chapter 7: How do I prioritize paying off debt versus building savings?
We've got a little dicey, and it hasn't panned out.
What does that mean?
I would like to pay her the money.
I know. What does that mean it didn't pan out?
Well, we've run into some obstacles, legal obstacles. Evidently, the people that we were dealing with weren't entirely honest with us. So the money's gone and you have no recourse. Right.
How's your sister taking it?
Well, she's been pretty patient with me. She's not harassing me at all or keep reminding me.
When were you supposed to pay her back? Tell me the initial plan, because I'm trying to gauge what your timeline is here.
We were supposed to pay her within a couple of months. It's been almost a year, and it's gone now.
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Chapter 8: What are the best budgeting strategies for the holiday season?
Just a little bit longer than I would want it to. Got it. Okay. or some private loan shark type situation where they're going to charge you enormous interest rates, just start paying her back. Could you pay her $1,000 a month? What would need to be true for you to pay her $1,000 a month or $2,000 a month? Could that happen?
Yes, I could pay her $1,000, possibly $2,000 if we really discipline ourselves.
Then start doing it. This is your sister, man. She loaned you the money. Man up. Start paying it back.
Okay. What was that? I would prefer to just pay her.
You can't pay her $20,000. So pay her what you can.
Because here's what can happen. I want to lay out two sides of this. Unless you tricked her.
right when you said hey sis let me borrow 20 000 i have this real estate thing that i want to invest in when you say the word invest you any person knows okay there's a chance i could make money and then there's a chance i can lose money so she i'm guessing she knew going in there was a chance that you would lose this money and if that was the case she wouldn't get her return back as quick or she wouldn't at least get the money that she invested back as quickly so
Go ahead.
So there is part of that. There is part of that that's true. You both agreed on this thing. I think it was a terrible agreement, but you both agreed to it. So there is part of that where it's like, okay, you said you were investing in this. It didn't pan out, so it's going to take a minute to get the money back.
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