How Do I Prepare To Buy a House?

The Ramsey Show Highlights

Ramsey Network

Self-improvement, Education, Investing, Business

4.6 • 682 Ratings

🗓️ 3 February 2024

⏱️ 5 minutes

🔗️ Recording | iTunes | RSS

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Summary

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Transcript

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0:00.0	Brought to you by the Every Dollar app.
0:04.3	Start budgeting for free today.
0:06.5	Nicola is with us in Jacksonville, Florida.
0:09.2	Hi, Nicola.
0:09.9	Welcome to The Ramsey Show.
0:11.6	Oh, Mr. Ramsey.
0:12.9	Thank you so much for taking my call.
0:15.2	I hope all is well with you.
0:17.6	So in my 20s, I listened to your, read your books and purchased a home at 27.
0:25.6	However, I lost my job after 10 years and I sold my condo in 2016.
0:30.3	I live at home.
0:31.3	I'm now 42.
0:32.8	And I created a lot of debt for myself.
0:35.1	But I want to purchase a condo in 2025. So I just wanted
0:39.8	your advice in a strategy on how what what debt to pay down first. I have $10,000 in total
0:48.0	debt, three personal loans, three credit cards, and I have $45,000 student loan debt.
0:55.8	I'm still in school seeking my master's and I'll be done at the end of the year.
0:58.8	So I'm not currently paying that.
1:01.0	Right now I have $36,420 in my 401k.
1:05.1	I, I know I borrowed from my 401k $20,000 to pay off my debt, which I accrued again.
1:17.8	So right now, biweekly, I'm paying 171.94 at 4.5% interest on my 401k.
1:19.9	All right.
	...

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