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The Ramsey Show Highlights

Dude, You’re a Hot Mess!

The Ramsey Show Highlights

Ramsey Network

Self-improvement, Education, Investing, Business

4.6682 Ratings

🗓️ 1 April 2024

⏱️ 10 minutes

🧾️ Download transcript

Summary

💵 Sign up for EveryDollar today - Create a free Budget! Did you miss the latest Ramsey Show episode? Don’t worry—we’ve got you covered! Get all the highlights you missed plus some of the best moments from the show. Watch entertaining calls, Dave Rants, guest interviews, and more! Next Steps 📞 Have a question for the show? Call 888-825-5225 Weekdays from 2-5pm ET or click here! 🏦 Take Your 3-Minute Money Assessment - Get a personalized money plan! Listen to more from Ramsey Network 🎙️ The Ramsey Show   🧠 The Dr. John Delony Show 🍸 Smart Money Happy Hour 💡 The Rachel Cruze Show 💰 George Kamel 💼 The Ken Coleman Show 📈 EntreLeadership Learn more about your ad choices. https://www.megaphone.fm/adchoices Ramsey Solutions Privacy Policy Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Brought to you by the Every Dollar app. Start budgeting for free today. So I've been working for a

0:09.4

service business for about, give or take six years back in 2010. I opened my own in about 2016,

0:18.6

you know, trying to expand my income.

0:23.6

Transitioned from a service company to a construction company.

0:27.6

And in the meantime, got married, built a family.

0:30.6

My question is as follows.

0:32.6

I have now just started calculating my budget and I figured out that I, um, either need

0:41.4

to address my personal income and expenses or change the, uh, business kind of model to, um,

0:52.6

to be able to match my personal income. Essentially, I'm paying myself from the business, to, um, to be able to match my personal income.

0:55.4

Essentially, I'm paying myself from the business, but not enough.

0:58.9

They're not matching up.

1:00.0

Yeah.

1:00.7

Yeah.

1:00.9

So how much do you pay yourself from the business?

1:04.0

Well, I don't.

1:05.0

That's, that's the biggest problem.

1:06.2

I've been mixing personal and business expenses since I started being,

1:09.9

I didn't know anything about business.

1:11.8

I just knew what I was providing the service.

1:15.0

Now I'm looking now to separate the two and how much do I pay myself?

1:21.5

Do I pay myself what my personal budget is needing or do I pay myself what my business can

1:26.4

handle?

...

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