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The Ramsey Show Highlights

I’ve Been Financially Stupid for Many, Many Years

The Ramsey Show Highlights

Ramsey Network

Investing, Self-improvement, Education, Business

4.5840 Ratings

🗓️ 18 March 2024

⏱️ 7 minutes

🧾️ Download transcript

Summary

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Transcript

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0:00.0

brought to you by the every dollar app start budgeting for free today all right we go to the phones

0:07.7

we have at toord in hartford connecticut hi tord welcome to the show hey how you guys doing we're doing great

0:15.5

how can we help yeah so basically i've been financially stupid for many, many years. And today in my car

0:24.6

actually got repossessed. And I was trying to work literally today. Oh, my gosh. I'm sorry.

0:33.4

It's all right. And my biggest question is I don't have enough I, I, I, I, I, I, I, I don't have enough money.

0:39.9

I'm getting about four, I don't have any savings right now.

0:42.4

Okay.

0:42.8

But, um, I, I'm going to lump sum for my unemployment, uh, about $4,000.

0:48.0

And I don't really have any bills.

0:49.7

I'm a truck driver.

0:51.0

I'm over the road, I don't pay rent or anything like that. So it's very easy for me to

0:55.0

handle a bunch of money. Okay. So my, my question would be, what is the best approach to this?

1:02.0

Should I, I all about $18,000 in the car. Okay. Um, I think it's worth about,

1:08.3

they were selling a use law about 16, 17,000,

1:12.7

from my research.

1:14.8

So, for the credit standpoint, since they already repoed it,

1:19.9

with my best course of action is having to sell it and then have me pay the difference,

1:24.2

which I'd be able to do, or should I get it back?

1:27.2

How many payments behind are you? Like, how much is it going to cost you to get it back?

1:31.3

Four. It's about four payments behind. So minus, you know, it's about $2,000 and paying $500 a

1:38.7

month. Okay. Was it a voluntary repossession toward or?

1:43.2

No, it's just, I was expecting to get the unemployment lump sum

...

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