Give Every Dollar a Name Before the Month Begins

The Ramsey Show

Ramsey Network

Education, Investing, Business, Self-improvement

4.5 • 38.5K Ratings

🗓️ 17 May 2024

⏱️ 118 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

💵 Sign-up for EveryDollar today - The simplest way to budget for your life! Rachel Cruze & Jade Warshaw answer your questions and discuss: "Is there a downside to recasting a mortgage?" "Should we tackle our debt right away with a layoff on the horizon?" "I work hard but I still feel like a guest in my own home..." "What should I do after maxing out my Roth IRA?" "Why should I choose mutual over index funds?" "Should I file for bankruptcy?" Support Our Sponsors: Zander Insurance BetterHelp Churchill Mortgage Health Trust Next Steps 📞 Have a question for the show? Call 888-825-5225 Weekdays from 2-5pm ET or click here! 📈 Dave Ramsey's personal playbook on investing and real estate. 👕The NEW Ramsey Merch is here! Shop Yetis, sweatshirts, hats and more! These 6 new arrivals are exclusively available only at the Ramsey Store. 💰 Enter the $3,000 Ramsey Cash Giveaway today! Enter daily to increase your chances of winning weekly $500 prizes or the $3,000 grand prize. Listen to more from Ramsey Network 🎙️ The Ramsey Show 🧠 The Dr. John Delony Show 🍸 Smart Money Happy Hour 💡 The Rachel Cruze Show 💸 The Ramsey Show Highlights 💰 George Kamel 💼 The Ken Coleman Show 📈 EntreLeadership Learn more about your ad choices. https://www.megaphone.fm/adchoices Ramsey Solutions Privacy Policy

Transcript

Click on a timestamp to play from that location

0:00.0	Live. Live from the headquarters of Ramsey Solutions. This is the Ramsey Show where we help people build wealth, do work that they love and create amazing relationships. I am a Rachel
0:25.7	Cruz hosting this show today. I have my good friend and best-selling author Jade
0:29.2	Warsaw and we are here to answer your questions.
0:32.8	It is a free call anywhere in the country at AAA 825
0:37.2	5 225. So give us a call.
0:39.7	We'll talk about your money,
0:40.8	we'll talk about your life, your relationships, anything and everything. We are here for you.
0:46.1	So first up we have Chelsea in Des Moines. Hey Chelsea, welcome to the Ramsey Show.
0:53.0	Hi, thanks for taking my call.
0:54.8	Absolutely, how can we help?
0:58.0	Have you guys ever heard of recasting your mortgage?
1:02.1	And I was wondering if there's any downsides to it.
1:06.0	What's what's making you want to recast?
1:08.4	Did you get like an inheritance or like a lump sum?
1:12.2	No, we're just very good at saving and we have maybe 20 to 30. Well, we are
1:19.2	getting a tax refund, but we have $30,000 squirreled away and yeah we were just wondering if we could lower our monthly payment.
1:32.0	Yeah, so let's talk through this.
1:34.0	So for anybody listening, really the idea of recasting is usually if you've got a giant lump sum of money, in this case 30,000, you can put it towards towards the mortgage and then you can go in and
1:44.1	basically have them redo the amortization schedule so the interest rate
1:48.2	doesn't change and so there's no closing you don't have to close to do it but the
1:51.8	point is it can lower your payment and so my
1:54.6	question to you here we're all about paying off debt and the best way to pay off the
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Ramsey Network, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Ramsey Network and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.