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Chapter 1: How should we split a Christmas gift between family members?
So my sister and I, we tend to have this debate every Christmas, and so... she's using Ramsey as her stance. And I just, I wanted to see if this truly is a Ramsey principle. So my sister and I go in on Christmas gifts often. And in my mind, if I'm going in on a gift with my sister, that's two people. We split it 50 50. Okay. But when she's saying that it's from her, her husband and me, um,
In my mind, 50-50 doesn't fully apply because there's three people now.
You think it should be thirds?
I think it should be at least recognized that it's not 50-50. So thirds would make sense. But can I tell you how she frames it? Does she blame us? Yes, she does. And I am not sure. She says, well, according to Dave Ramsey, we are one household with one joint finance situation. And so we count as one share. And I'm a single person. So to me, that's just... Rude.
Well, here's the thing. Okay. It is definitely getting in the lines of like legalistic, I think. She's right. If you're married, we think of you as one, like one income, one band, one sound, like that whole thing. But I also see your point of view, which is like, hey, let's say we all make $50,000 a year. That's $100,000 from her household and only $50,000 from mine, right? Yeah.
yeah is that what i'm understanding so tell me what you want out of this do you want her to just recognize hey thanks for going halfsies on me i understand that it's two against one here is it just you want her to validate that or do you really want her to pony up more cash good question that is a solid question i think i would like okay if it's for my parents and then you know that's more my sister and i
I would be happy with a 60-40 split, just for recognition.
Okay, 60-40, okay.
But otherwise, if it's depending on who it's for, I think thirds is appropriate.
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Chapter 2: What are the pros and cons of a 15-year mortgage?
Should I pause making additional payments towards my debt and just work on saving money for additional attorney fees that might come up?
Yeah, I would. This is definitely a storm. Yeah, for sure. I would categorize this as a storm. And we do say that when you're in baby step two, especially, there's a couple of things that would cause you to kind of pause. And that would be a baby on the way or some sort of storm or major emergency that is causing you to kind of have to just hold tight for
A minute yeah that becomes more of a priority at that Point than paying off debt right we're all about paying off debt But your child is a Priority there right if there's a health Issue that you have to pause to make Sure that you can get yourself in a healthy place that Is you know yeah pregnancy like Anything that is
um takes precedent right which is usually a relational situation or a health situation we for sure say pause um and get that in order i'm so sorry samantha um i'm always so impressed with women like you that that choose to to step out of a situation like that because that cycle can be so um so hard to break out of uh how long has this been going on just the from the custody standpoint fighting it with lawyers
Um, so going on two years, the first part was when he tried to fight the restraining order. So that was the first time I took on attorney fees. And then now, you know, he was, he was in jail for a bit for violating the restraining order, but now he's out. So now he's trying to come for full custody. Oh my gosh. How many kids do you have? Luckily I only have one. Okay.
Me and my daughter, but it's still a lot.
How is your like financial situation? How is your home situation?
um so i currently rent and i am safe um luckily i'm with family and i make about 52 000 a year good um but my debt went from i got it down to 12 000 and now it's back up at 20. so and what are you is that just the outstanding is that just the 20 000 is the attorney fees no so um about 10 000 of it was attorney fees um 6 000 was about credit card
three about student loans and then about $2,000 left on my car loan. Okay.
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Chapter 3: What should I do if my ex-fiancée can't refinance her car loan?
So I was able to pull from like 401k to kind of help with this because it was so, I wasn't expecting it. You know, I thought after the restraining order was standing that that was going to be it. So I wasn't expecting this. So I was able to get a little bit of help through that. But of course, I want to pay all of this back as quickly as possible.
But my biggest fear is I don't know what's going to happen three to six months from now to the next year as well.
Right. Okay. So are you still in the middle of this then? I am. Yeah. Okay. And has y'all, has your lawyer given you any timeframe by any chance? Like, do you know, I mean, you're saying three to six months, you know, like, does he have any conclusion of like when this will end?
No, no, because we're still waiting on mediation. And then more than likely that nothing's going to happen in there because my ex is of course, he's not going to agree to anything.
Does your ex have a lot of money? Is that why he's trying to, is he trying to drain you out on this?
Yeah, they think so. Because yes, he comes from money. So he knows that I would do anything to protect our daughter. So he knows that I'm willing to, you know, figure out ways to get the money because he knows I'm not going to represent myself. I'm not in a position to do that, you know, emotionally and
So what is there anybody around you that has the ability to help with this that wants to? Because the truth is, this is costing you money and it's costing you money that you don't have.
And I do believe like I'm I believe that the custody is going to end up with you because from what you're telling me, there's clearly track record that this is an abusive person, especially the fact that he's ended in jail for trying to violate this. So I have a feeling that this will end with you. But how long can you go down this track? Do you see what I'm saying?
Yeah. Yeah.
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Chapter 4: How can I manage my budget with an irregular income?
So I pay about $296 a month for the car.
Good. So another $300. That's great. To Rachel's point, that's even more money that you'll be able to set aside. So yeah, like no disguising the fact that this is tough and, you know, you've got your work cut out for you in a lot of ways.
But I think just being really intentional, still creating a plan and sticking to that plan, whatever you decide that plan is, is going to be really paramount for you walking through this. That's so, so, so, so tough. I know. I'm so sorry, Samantha. Tough to walk through. All right. Do you want to try to take another call right quick? Let's try it. Caleb in Norfolk, Virginia.
What's going on, Caleb?
Hey, thank you for taking my call. Merry Christmas.
Merry Christmas. How can we help?
So my question is regarding life insurance. I'm currently in the military, but I'm getting out in about three months. I have a life insurance through the military. It's called super service members, group life insurance. I pay about $31 a month for a $500,000 policy.
Uh, my question is whenever I get out, I have the option for a limited time really to roll that over into what's called veterans group life insurance, um, which is about $35 a month. Um, and that will, you know, increase about every five years. Um, I'm 26 now I have no debt, but, Really, I'm just unsure because I don't have a wife or children yet.
I don't really have anybody relying on my wage but me. So I'm just kind of looking for some guidance here.
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Chapter 5: What steps should I take if my spouse's employer isn't paying him?
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George exposes those money myths and traps around credit cards, student loans, mortgage traps. Yeah, it's a great like Gen Z book.
If you have like kids in their, you know, maybe late teens, 20s especially, maybe even some 30s. But yeah, it's a great one.
I feel like it's like a... It's a version of total money makeover for like the younger, younger crowd. George is hip. He's very hip and he's very smart. Let me just say George Campbell is super, super, super intellectual. All right. So you could also get questions for humans. Those decks are just $12. They're just conversation starting decks. I love those.
Whatever you're looking for, you can go to Ramsey solutions.com slash store to shop those Christmas deals. Or if you're listening on YouTube or podcast, You could simply click the link in the description. All right. I love it. Listen, I get questions for humans decks every year and give them out. Yes, I know. I have two in my purse right now to give for gifts.
People have been asking for them.
Love it. All right. Let's see what Al is talking about. He's in Atlanta, Georgia. What's going on, Al?
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Chapter 6: How can I prepare for unexpected legal fees during a custody battle?
It's only $232. Okay.
And then just to clarify the mortgage, the entire mortgage is $240,000. That's what you owe?
Yes, ma'am.
And what's the monthly payment?
$2,000, but with utilities, it comes out to about $2,500.
Okay. And what's you guys' take-home pay?
$70,000?
And when you take your checks home, what is it every month?
Like I would say like roughly like $2,000, $2,500 a month.
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Chapter 7: What should I consider when co-signing a loan?
And people can, you know, make it work at 28 or even up to 30 if they know that they have this track of their income going up. But in this case, that being half, um, There's no real place for you to go. You're extremely house poor and I know that you feel it. And so to your point, that might be the idea is to sell this house. But I want to know, is there a way that you see your income going up?
Do you guys have plans? Tell me more about that.
Yes, we are picking up overtime. We also have a side business where we detail cars and we plan on Ubering and stuff like that.
Okay, how much are you guys making on all of that extra?
It varies. It varies.
Okay, a couple hundred? A thousand?
Yeah, I would say a couple hundred.
Okay, okay.
So what it sounds like just from, and I'm not saying this to throw shade, it's just the fact. Based on the way you're answering these questions, it doesn't sound like you're using a budget. Because one thing I know is when there's no budget, you're searching for the numbers, right? Right. Okay. So that's the first step here.
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Chapter 8: What is the best way to handle money challenges during the holidays?
No, we haven't.
Okay. Okay. Because, yeah, I mean, all of this is a little bit disarray. I mean, you're kind of have you guys have dabbled into like every part from a from a debt standpoint. And I want to give you like a really clear path and plan in this call with you in the next few minutes, because I think it feels maybe a little jumbled. It is.
So here's what I would do out if I were to wake up in your shoes tomorrow. This is always a fun game. It is. And much easier said, Al, on the side of the desk as I'm talking to you than implementing it because this is going to be really hard. And here's the truth. If you want something different with your money, something has to change.
And you guys need to make a complete 180 and do things completely differently than how you've been doing it. I would put the house up for sale because I think this eating half your income is not going to work long term and it's going to continue to leave you guys in the red. Mm-hmm.
i would kelly blue book her car and i would get it sold asap private sale i wouldn't take it to a dealership private sale even if you if you're underwater a few thousand uh then take out a loan for the difference and get a three four thousand dollar car in the meantime and let that be the car um and then i would start working and i'd pay off this two hundred and thirty two dollars like this month i would you know i would work to pay that off yeah and then you guys would have the 8k left in credit card debt i think is what or no your car eight thousand in your car and
$20,000. And if your car is nicer, Al, give her your car and you drive the $3,000 car. I love that. And then those are your only two debt left, really, is your car and the $20,000 in credit card debt. And again, this is going to take... I've just laid out two to three years of you guys... really buckling down and saying, we're going to work tons of overtime. We're going to get this cleaned up.
But Al, you guys could be in a completely different situation, but you have to make completely different choices than what you guys have been making. And Jade mentioned the budget, and the budget's going to be a great thing because it's going to keep you accountable, and you're actually going to see... Holy crap, here's what we spent going out to eat.
Holy crap, this is what this is costing and this and this. And you actually start eliminating some of this stuff, find extra margin to throw out this debt. And you really could start making some headway. So if you'll stay on the line, Kelly's going to pick up and we're going to give you guys every dollar premium, which is our budgeting app.
And I want you and your wife to sit down together tonight and you guys start filling this out together. And then we're going to throw in Financial Peace University, which is our course and the Total Money Makeover book and the audiobook.
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