My Husband and I Don’t Trust Each Other With Money (Hour 3)
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Is going back to school worth the investment?
Live from the headquarters of Ramsey Solutions, broadcasting from the pods, moving, and storage studio, this is The Ramsey Show. It's where we help you win in your life, specifically your money, your work, and your relationships. I'm Ken Coleman, and I'm joined by my colleague, Christina Ellis. We're here for you this hour, 888-825-5225. That's 888-825-5225. Let's get to the phones, shall we? Yami is joining us in Orlando, Florida. Yami, how can we help?
What recent developments are there in student loan forgiveness?
Hi. Well, as you know, my name is Yami. Hi, everyone. Basically, I went to school a little later in life, like maybe two years after I graduated. I had a really good paying job. I worked in a bank, but I had a passion to do ministry, and I'm a really good singer. So, actually, my old youth pastor said, maybe you should go to school to become a worship pastor.
How can I navigate financial pressure from family?
So, I decided to go to SCU at an extension site where I was basically working full time, doing schooling for time, but they were actually paying for most of my schooling. up until COVID hit. And during COVID, since I wasn't able to work at the church full-time, I was having to take out a loan. And mind you, I never, ever wanted to take out a loan. That was like my biggest fear. But during COVID, I absolutely had to, or I wouldn't be able to pay for schooling. So what ended up happening was that I... I didn't really read the fine print, and I made a huge mistake, and it turns out that they had been placing those loans on my account, my student account, up until I graduated. So then I was left with almost $10,000 of student loans, as well as
Recently, I just did my taxes and I owe like almost $700 because I was working part-time at a preschool and they were like a self-employed kind of deal. So now I owe money back. Anyway, all that to say, I have a passion for people and helping people. And during COVID, I was really depressed and I was able to get out of that depression. So my passions kind of shifted and I decided that I would love to be a therapist one day.
What steps should I take to improve trust in financial decisions?
trying to figure out what's the smartest thing to do, if I should wait before going back to school to pay off these loans or if I should defer them, or I guess that's what it's called, and then just hop right into school, or if I should even get the degree at all considering the state of the world and inflation. And, yeah, I'm just kind of lost, and all I want to do is help people in my life. Sure. Yeah.
Yeah. Well, I'm glad you called today. And I think the very first thing is kind of just slowing down. Like, I feel like there's a lot of kind of chaos in all of this, especially even with the way you got your last degree and the confusion with COVID and taking out the loan and not knowing what's going on and now wanting to shift and not really sure. I think you're heading somewhere, but sometimes it's good to just go, okay. Let's stop. Let's stop and be real strategic about this. And I think that's what you're doing with calling today. So I'm glad you did that. So with the degree that you got, it was what was the major?
So I majored in ministerial leadership, so it wasn't necessarily a worship pastoring degree.
How can I manage student loans effectively?
It was more just about biblical studies and public speaking and leadership abilities and things like that. Plus, I got a minor in psychology, and it's accredited, so that's good. So what are you doing right now?
What is your career at the current moment?
Right now, I'm working at a Bath & Body Works, and I'm trying to find a job that's Maybe hopefully going to be able to pay for the master's degree if I decide to go that route.
OK, I feel like this conversation makes me think of what Ken and I talked about recently about grad school. I think a lot of people go to grad school when they feel confused. They feel like maybe their undergrad degree didn't lead exactly to the career that they wanted or it wasn't as easy when they when they graduated. They're working in a job that they're not wanting to stay in. They feel confused. They're like, you know what? If I go to grad school, then I don't have to. feel weird right now.
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Chapters
8 chapters
1
Is going back to school worth the investment?
0:30–1:03
2
What recent developments are there in student loan forgiveness?
1:03–1:26
3
How can I navigate financial pressure from family?
1:26–2:57
4
What steps should I take to improve trust in financial decisions?
2:57–4:03
5
How can I manage student loans effectively?
4:03–5:01
6
What are the implications of taking on a car loan?
5:01–6:14
7
How can couples align their financial goals?
6:14–7:22
8
What resources can help me gain financial clarity?
7:22–38:33