The Best Side Hustles To Make Extra Cash Right Now (Hour 1)
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Live from the headquarters of Ramsey Solutions, broadcasting from the Pod's moving and storage studio, it's The Ramsey Show, where we help people build wealth, do work that they love, and create amazing relationships. I'm Ramsey personality, George Campbell, flying solo today. That's right, America. They left me at the helm. There's no one to stop me from making poor choices. And so it could be an interesting show. Could be my last one. It's up to you. Let's make it a good one. The number to call is 888-825-5225. That's 888-825-5225. You jump in. We'll talk about your life and your money, whatever's going on. I'm happy to be a sounding board and maybe give you some advice. But remember, it's worth what you paid for it.
Let's kick it off with Clay in Perry, Georgia. Clay, what's going on? Hey, what's going on? Thanks for taking my call. Absolutely. How can I help?
Yes, I am a little nervous.
It's just me, Clay. There's no one even to be scared of. I'm the least intimidating person you could meet.
Yes, I'm 20 years old, and I was wondering, I want to move out of my parents' house eventually, but I don't know how much money I need or how to do that.
Where do you want to go and why?
Just move out, just start my adult life, whatever, just try to experience that.
Okay, cool. So are you moving out of the state? Where do you plan on going?
I'm honestly just like 20 minutes away from my parents' house.
Okay. And is this an apartment? Where are you going exactly?
Apartment, yeah.
Okay. And will you be living alone or with roommates?
Probably alone, most likely.
Okay. And you know exactly how much that apartment's going to cost?
Around $1,200, $1,300.
And have you looked into any other fees, like initial deposits that may be involved?
I do not know. I'm currently out of debt and I have a three, six month saved up. Oh, awesome.
At 20 years old. And you're currently working, I assume. Yeah. Okay. Did you go to college or you just went straight to the workforce?
Straight to the workforce. I'm actually going to school in August to do electrical, be an electrician.
That is awesome. Big fan of the trades. And what are you doing right now for work?
I build storage barns, portable storage barns.
That sounds fun. What do you make in doing that?
Around, last year I made $91,000, so this year probably $90,000 to $100,000.
$100,000 at 20 years old with no four-year degree? Yep. I hope everyone in America is listening to this going, oh my gosh, maybe I shouldn't send my kid to school for a random degree they don't need that costs $300,000. Clay, you're amazing.
I appreciate it.
So you make great money, and this rent, the key we want to look for when it comes to rent is that it's about a quarter of your take-home pay. So the question becomes, do you make $4,800 a month?
Yes, about five or six take-home.
Perfect. And as long as you have the initial deposit, I don't want you touching the emergency fund if you don't have to for this, because truly it's not an emergency. So you want to make sure you have that money ready to go. So I would call up that apartment complex and say, hey, what are all of the fees involved with me getting into this apartment?
I gotcha.
And then do you have furniture?
I do not. That's one of the things. I didn't know how much you save up for furniture. to move out or something like that for furniture and stuff like that.
Well, you can do it real cheaply. And what I did was just go on Facebook marketplace and, you know, friends are always giving away stuff, family, Facebook groups in your neighborhood. There's even Facebook groups that are just called buy nothing Facebook groups where they just give away stuff. Okay. So I would go cheap until you need to upgrade. But really, you're out of debt with an emergency fund. If you want to buy some decent furniture online on, you know, like a Wayfair or something and really start to kick off your adult life, go for it as long as you budget for it.
Awesome. Sounds good. Also, I have one more question.
Sure.
I have a $40,000 truck paid off. I didn't know. Is that worth keeping because gas mileage is pretty bad and just like downgrading some or what do you think?
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