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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 amazing relationships. I'm George Campbell, joined by bestselling author Dr. John Deloney, and we are here for you, America, taking your calls at 888-825-5225. You call in. We'll talk about your life, your money.
We'll help you take the right next step and hopefully give you some hope. Baker kicks us off in Charlotte, North Carolina. Baker, welcome to The Ramsey Show.
Hey, how's it going, guys? Great. How are you? Hey, I'm doing well. Hey, quick question for you guys. I've been following the Ramsey Solutions now for a couple months, and I feel like I've made some pretty good progress on my debt. And so now I just kind of feel like I'm at the age now where friends are getting married. I have bachelor parties.
I have to travel a lot to visit family and friends and that sort of thing. And I feel like every time I... put a good chunk of change towards my debt, I feel like something else pops up and I just feel like for the rest of the year I just have so many things that I have committed to and feel like I need to commit to.
And it's kind of like I take, you know, a step forward and then another step back and it's like, it's just starting to kind of eat at me and I just don't know how to necessarily go about that with family and friends.
How old are you?
I am 27 turning 28 soon.
Okay. And you're single?
Uh, no, I do have a girlfriend and that's kind of why I started following the Ramsey solutions. Cause I'm like, I'd like to get engaged this year. Uh, she somehow wants to say yes to me. And, uh, so yeah, I just want to start setting up my life.
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Chapter 2: How can I set boundaries with family and friends regarding my finances?
That's right.
As we've often quoted on the show, you need to choose guilt over resentment because what happens is you do all of these things. You're going to resent your buddies because you're still in debt. You're trying to save up for the ring. You're making all of their dreams come true. And I'd rather you choose guilt and go, man, I hate that I can't go, but this is what's best for me right now.
And if they're really good friends, they're going to understand. I had friends that couldn't make it to my wedding and my festivities and the bachelor party. And I was like, totally cool, man. Doesn't change our friendship one bit.
Can I tell you a morbid exercise? Now, again, you got to understand that my family is kind of different than most families. My dad's homicide detect. We talk about death all the time. Yeah. But I actually went through an exercise about six months ago, writing down for myself. This is just all for me. which one of my closest friends' parents' funerals would I attend?
I was just trying to look at over the next 15 years as we're all getting old. How many funerals would I go to? Would I leave? Would I hop on a plane for? And A, it was way more than I thought. And all of that comes with a cost. And B, it also is pretty clarifying because I was able to say, now I'm going to call in on this one. I'm going to send this guy a letter.
I'm going to write him a note that tells him what his mom meant to me. But similar for you, man, a video of you Texted to all your buddies while they're at a bachelor party and be like, I'm missing it. I can't believe y'all are having so much fun. I hope y'all have a blast. That's it. That's good. That's good. And George mentioned this.
It's actually not fair to your friends to resent them because they invited you and you didn't have enough courage to say no because you couldn't afford it. That's not cool. It's not their fault. So tell them no. And they get mad. That's fine. They're going to get the feelings hurt. That's fine. Go to the wedding. Or don't go to the wedding. Send a funny card that you... I don't know.
I'm just going to make up stuff now. But yeah, you're going to have to say no, brother.
Yeah, no, absolutely. Well, hey, seriously, that's all the info I needed. So thanks, guys. You guys have been like awesome last couple months. And me and my brother have been listening to you guys, and we definitely want to make our lives better because of you guys. And so I just can't say thanks enough for taking the time to talk to me.
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Chapter 3: What are the challenges of prioritizing debt repayment over social commitments?
I learned a lot there. Thank you for that. More calls coming up. 888-825-5225. This is The Ramsey Show. Welcome back to The Ramsey Show. I'm George Campbell, joined by Dr. John Deloney. People have been asking for it, John. Back by popular demand, the Money and Marriage Getaway is back. It's happening this fall, October 24th through the 26th.
Join Dr. John Deloney and Rachel Cruz for a weekend away right here in Nashville, Tennessee, right at the Ramsey Solutions headquarters at our brand new event center. You get two and a half days of teaching focused on communication, intimacy, and money. And let me tell you, this is the opposite of a boring marriage retreat, if there ever was one.
It kind of gets off the rails.
Mostly because John's involved. Rachel keeps it on the rails. John's goal is to get it off the rails. And that is worth the price of admission.
Rachel never even gets on the rails. She's in a pretty nice car out in the parking lot.
She's doing fine. She's doing fine. But this is a really great event. It was a special time last year. I got to speak at this event. Don't know if they'll invite me back.
100% no chance. No chance.
Okay. There it is. From the horse's mouth. Well, there's going to be lots of Q&A, lots of time to get your answers to real hard questions, and they bring levity to it all, which is so fun. You and your spouse will walk away with the tools you need to build a deeper connection and win with money together. Platinum tickets already sold out.
There's a few VIP tickets left, which include meet and greets with John and Rachel, so go get your tickets before they're gone. Tickets start at $799. That's per couple, and this is... They make it an amazing experience. Our live events team is world-class. Regardless if you enjoy John's talks, the live event itself is worth coming for.
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Chapter 4: How can I balance financial goals with personal relationships?
So it's more the emotional level of leaving the children and going to work versus the financial level?
The baby, yes, because my son's already in daycare, so it's more the new baby. Just the thought of doing it freaks me out, but then I also don't want to. Mostly it's my day anyways, which I know you guys would say. It's our day, and my husband's super supportive. He doesn't look at it that way. I think it's just me, but I feel like I can't win.
The two pieces of advice I could give you is, number one, you're going to get 5,000 different opinions. The only two that matter are you and your husband sitting down and making a choice for your home. The second one is it's really tempting to feel like whatever decision you make is forever and it's just simply not.
So if you want to try this out for a month, try it out for 30 days and figure out how you feel, how your baby's doing, how your finances are doing, how your husband's doing. You all sit down and have that conversation and then go month by month for the first three or four months. No decision here is forever. Okay. And just give yourself a lot of grace.
Keep your hands open and just know that some of your family members are going to be like, oh my gosh, she's the worst mom ever. And then some of your friends are going to be like, oh my gosh, you really would consider not going back to this job. You make so much money. You're so lucky.
You just graduated. You got that degree and now you're staying at home. All of that's going to hit.
It's what works for you and your family. And what works for me and my family is different than what works for my friend George and Whitney. And so it's just different, and everybody's got an opinion, and none of them really matter except for you and your husbands.
Thank you. Is that cool? Thank you. Yeah, that's perfect. I feel like I just needed to hear that maybe.
No, you're good. You're good. None of these decisions are forever. So hold them really loosely and do what works best for each of you in different seasons.
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Chapter 5: What humorous moments do George and John share?
Hey, George, yesterday we were, you and I were cutting something for social. Social team comes to us with these ideas for things and they're like, hey, we need y'all to do this. And sometimes it's like, that's great. And sometimes we're like, oh, geez. But I don't know what's like cool and trending on TikTok. They keep up so that you don't have to. Exactly.
But they had us face each other across the table and do a dad joke competition. That was some of the most fun you can have at work. Bro, you did a joke, and I don't know why it hit me so funny, but I laughed all day. I clearly broke at the table.
You broke about every three jokes. I know. I stayed strong.
I like good jokes. You did stay strong. I don't think you have a soul.
Well, for you, it was the direct eye contact that I made the whole time. I think that's what broke you.
But I need you to tell America the joke that got me the worst.
The sponge joke?
Yeah, it was a great joke, man.
Okay, this one took some people a few seconds, so really think about it. I was washing the car with my son this weekend, and he said, Dad, can't you just use a sponge?
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Chapter 6: How does Mike describe his overwhelming student loan debt?
That's why it's a dad joke. It's meant for dads.
That guy that looks like you got cloned out there just thumbs down to you. Your alt version of yourself.
I didn't come up with this. They found it on the internet. It comes from the dad joke repository.
I think it's a great joke. I feel like there's a Where's Waldo, but it's a Where's George Campbell, and you're right next to me and in the lobby.
It's so strange. To be fair, I look like a few more of every guy that's ever worked at an Apple store and put them into one body. So, you know, familiar face.
That is very true.
Very helpful. Very excited to tell you about the latest iPhone 15 Pro.
And it does look like you shave with an electric razor with your eyes closed.
All right, let's go to... There we are. Mike is in Richmond, Virginia. Mike, save us from ourselves. How can we help you?
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Chapter 7: What strategies are suggested for paying off debt?
You might win the competition in the worst way. Bring it. What is it?
Yeah, exactly. But I'm in $460,000 of debt.
That's not even close. Child's play.
That is a lot of debt. That's an insane amount of debt, Mike. Let's be very clear. What kind of debt is this? What?
It's all student loans. Every penny? Yeah. Are you a physician? What's that?
What do you do for a living? Are you a physician?
I'm a dentist, yeah.
There you go.
Okay. So, yeah, I was listening to your book, Breaking Free from Broke, yesterday, and I was like, the chapter on student loans, and I was like, yeah, this is written about me. And, you know, when I was in high school, getting ready to go to college, my family didn't didn't have a ton of money. So I was pretty much responsible for paying my own way about 18. I didn't really know what I was doing.
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Chapter 8: How can Mike and his fiancée manage their finances together?
Um, and about, and about a month. So, I guess my question is like, how do I, and I think I may know the answer, but how do I grasp this number? It's just so daunting. What do you take home every year, man? Last year, I made 275.
Do you have your own practice or are you a part of a group?
I'm an associate. My brother actually owns the practice. And I guess long term, I would like to become a partner.
Do you have to buy in for that? Or is that going to be just a draw rate? Okay.
Yeah, I do have to buy in. So that's down the road. I'd like to clean this mess up first.
So if you got really aggressive, how much can you throw at this dad every year?
So I'm planning, I mean, I mapped everything out. I'm planning about 10 K a month. Just, you know, throw out the debt.
Um, that's not enough. You can do more. Are you married? Do you have kids?
I'm engaged. My fiance is also, um, a physician, but she's in a residency program. So she's only taken in about, I don't know, 50 to 60 K. So that'll change in a couple of years, but we don't share any finances yet. We will, but yeah,
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