This is the Ramsey Call of the Day, part of the Ramsey Network.

Starting this hour is going to be Anthony.

Anthony's with us in Jackson, Tennessee.

Hi, Anthony.

Welcome to the Ramsey Show.

Hey, Dave, how are you?

Better than I deserve.

What's up?

All right.

My question today involves have to do with paying off a mortgage or saving up a down payment for a new house. My wife and I are, uh, we just became consumer

debt free and we will have our emergency fund built up within the next two months. And I just

wasn't sure, uh, if it's better to build the

equity in our existing mortgage. I think we could get it paid off within that two to three

year period or just save up a pile of cash. Well, congratulations. Way to go, man.

Thank you. Feels good to get controlled, doesn't it? It does. 55,000 and 18 months.

There's a student loans and a car loan. Way to go. That's

exciting. Yes, ma'am. Thank you. So the question is, you're thinking ahead to paying off your

mortgage. Am I understanding that correctly? Yes, either that or getting a sizable down payment for cash. I

don't know which one would be more beneficial. Well, once you've got your emergency fund saved, walking down the baby steps, then you're

going to start putting that 15% away for retirement, right? Do you have anything with kids college

coming up? Do you have kids? We do have a one-year-old little girl. We haven't really started

anything on her yet because we're getting out of debt. That's right. And when the time comes, you'll want to make sure that you're doing baby step five.

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