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Chapter 1: What is discussed at the start of this section?
Live from the headquarters of Ramsey Solutions, it's the Ramsey Show, where we help people build wealth, do work that they love, and create actual amazing relationships. I'm Dave Ramsey, your host. Our phone number here is 888-825-5225. That's 888-825-5225.
George Camel, Ramsey Personality, host of The George Camel Show on YouTube and co-host of Smart Money Happy Hour and author of the brand new book that launches today, Breaking Free from Broke. He is my co-host today.
Chapter 2: What is the significance of George Kamel's new book launch?
And today is book launch day around Ramsey. I hear we're
putting george's new book into the wild officially it's been shipped and a bunch of you should be getting it in your mailboxes today or tomorrow depending on where you live and how all that works breaking free from broke the ultimate guide to more money and less stress the pre-sales on this were excellent thank you guys for participating with us on that and for those of you that haven't gotten the book uh well this would be a great week to go ahead and get it
Breaking Free from Broke. And George, this has been quite a project. You guys have done the research that went into this book and the new things that we did with the audio book. There's a lot of things that we did here that we've never done before.
I like to do things the hard way, apparently, Dave. And it's always worth it in the end, but it can be a grind to get there. And this one review sums it up, which is so beautiful. Self-deprecating, honest, data-driven, and pop culture filled. I'll take that. That's exactly what I aim to do. Can we write a money book that's easy to understand, conversational, funny, relevant, and data-driven?
And I think we accomplished all of that.
It is. It does have all that. I mean, a data-driven automatically sounds boring to me. Sure. When you say that. But well, it's just not my opinion. When you put it in there with George's snark and his pop culture references, suddenly it comes alive. Bring it to life.
And yet the audio book, I read it myself. A lot of people are asking. And the team did an amazing job with sound design and effects. And you even hear Dave pop in at random points with some quotes. And so we just tried to bring it to life. I love audio books. And I think if you love audio books. You're going to enjoy this. But the hardcover, if you pre-ordered, came with all of that for free.
So you got the email this morning, which is very exciting. So it's like Christmas morning for me. I couldn't sleep last night, Dave. It's exciting. I was pumped, amped up for the feedback and to see how many people break free from broke in 2024.
Well, and doing a book is a, I mean, it's a task. There's a lot of work involved. We've been fooling with this for a year. Over a year, yeah. And, you know, getting one out into the wild is, you can throw them out there or you can do them properly. And we do them properly here at Ramsey. And this is your first one. So, I mean, you had a baby this year and you birthed a book.
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Chapter 3: How do you handle finances when combining households?
I could make anywhere between 90 to $200,000.
Is that what you're going to do? Travel on the road?
Yes. Yes.
Okay. All right. So 30,000, if you're making 90,000, 30,000 extra debt on a home is not that big a deal, right?
Yes, sir.
Okay. So if you want to hire out part of it done and you want to have an $80,000 loan rather than a $50,000 loan, that's not the end of the world. No problem at all with that. Okay. Now, I do want you to think, how old are you?
24.
Okay. I have a barn with an event barn on our farm that's very nice with a nice, really nice one-bedroom studio apartment built into it, a barn dominium, if you will, which basically is a very large doghouse. If I get thrown out, I can run over there, okay? I don't live there, but it's the same concept, all right? But I have a five- and a 10-year plan for that property
I'm thinking out into the future. I didn't just randomly build it. So I'm a little bit concerned that five years from today you meet someone and her goal in life is not to live in a barn.
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Chapter 4: What advice is given about selling a house after a breakup?
Tanner's in Minneapolis. Hi, Tanner. Welcome to the Ramsey Show.
Hi, Dave. How are you doing?
Better than I deserve. What's up?
Yeah, so I have an opportunity on the table where I can advance my career by taking a new position, and it will include a title change that is better than the one I currently have and a raise.
And I'm just wondering how do you think I should go about approaching my current company and current boss about the opportunity I have on the table and not destroying my relationship with this company and the people that I work with?
What is your goal? Are you quitting?
Yeah, yeah, I'd be leaving and moving to a new company, yep.
Okay, so how do you maintain relationships when you quit? Is that your question?
Yeah, I don't want to ruin it because then down the line if I reconnect with them, I don't want them to be like, oh, this guy left me, I hate him now.
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Chapter 5: What are the key considerations for buying an RV versus paying off debt?
Only real estate that is paid for and is not causing problems financially is good, and your property is not a good property. You're in a bad situation with it. I can't stress that enough. I know that's bursting your bubble that you read somewhere that caused you guys to do this horrible deal, but that's what I'm here for. I'm not a dream killer.
Chapter 6: How can prioritizing financial goals impact long-term stability?
I'm a nightmare preventer.
Ooh, I like that.
There's a difference. There's a difference. I don't believe in killing people's dreams, but if I can kill your nightmare, I will. And I've owned that piece of property that she owns just like that, and you're playing Russian roulette with your checkbook.
I bet during this show we'll take a call from someone on the other side who's been there, who says, Dave, I have to get rid of this property. We're underwater on this thing. We had an emergency, and so we just don't want that for you.
Yeah.
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Chapter 7: What advice is given for managing student loan debt effectively?
Everything was fine until we got laid off.
Until it didn't work out on paper.
This is The Ramsey Show. George Campbell, Ramsey personality, is my co-host today. He is the author of the brand-new book, Breaking Free from Broke, that is on the shelf today.
Chapter 8: How can one balance investing and saving during financial planning?
You can find it at your local bookstore at ramseysolutions.com or, of course, at Amazon. Anywhere you want to pick it up, Breaking Free from Broke, today's launch day on the book. We're celebrating around Ramsey. Congratulations, George.
Thank you. It's been a fun morning. It's mostly Instagram I'm checking on. Everyone's posting about their book showing up in the mail, so it's been fun.
That's cool. Very cool. Rebecca is with us in St. Louis. Hi, Rebecca. How are you?
Hi, good. Thanks so much for having me. Sure.
What's up?
Well, my husband and I, we are big savers, and we are trying to figure out if we can afford an RV. We have been camping for a while, and we want to upgrade to an RV. Mm-hmm. The RV costs about $110,000. Right now, our net worth is about $2.4 million. We make about $290,000 a year combined. We are currently on baby step seven. We have about $125,000 left on our mortgage.
And we do have some rental properties, which is what is lifting us up. And we owe about $450,000 spread across five or six different rental properties that are currently cash flowing. So we're trying to decide if we should pay off our house or the rentals or if we can go ahead and get the RV.
Okay. And you have $110,000 in cash?
We do.
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