It’s Time to Go Scorched Earth on Your Debt

The Ramsey Show

Ramsey Network

Education, Investing, Business, Self-improvement

4.5 • 38.5K Ratings

🗓️ 3 February 2026

⏱️ 126 minutes

🔗️ Recording | iTunes | RSS

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Summary

💵 Type your money question, get a Ramsey answer instantly. Jade Warshaw and Rachel Cruze answer your questions and discuss: "Should I sell some silver that was gifted to me?" "Should we downsize our home to get ahead on the Baby Steps?" "How do I talk to my mother-in-law about settling their Parent PLUS loans?" "How do I balance paying off debt and still having enough to cover my expenses?" "How do I get my husband to be more aggressive about Baby Step 2?" "I'm $26,000 in debt, is getting a debt consolidation loan a good idea?" " How can I grow my savings so I can afford to buy a house?" "How do I cashflow going back to college to increase my income?". Next Steps: ✔️ ⁠Help us make the show better. Please take this short survey.⁠ 📞 Have a question for the show? Call 888-825-5225 weekdays from 2–5 p.m. ET or ⁠send us an email. 💵 ⁠Start your free budget today. Download the EveryDollar app! 🚢 ⁠⁠Cruise with Ramsey: Save $300 this week only! 💻 Need help with your taxes? See who we trust. Connect With Our Sponsors: Get 10% off your first month of BetterHelp Go to Boost Mobile to switch today! Go to Casper Sleep and use promo code RAMSEY to learn more If you want your car to keep going and going, trust Christian Brothers Automotive. Find a local shop and get an exclusive Ramsey discount of 10% off Learn more about Christian Healthcare Ministries Get started today with Churchill Mortgage Get 20% off when you join DeleteMe Go to FAIRWINDS Credit Union for an exclusive account bundle! Debt collectors hassling you? Take back control of your life at Guardian Litigation Group Find top health insurance plans at Health Trust Financial Use code RAMSEY to save 20% at Mama Bear Legal Forms Visit NetSuite today to learn more Get started with YRefy or call 844-2-RAMSEY Visit Zander Insurance for your free instant quote today! Explore more from Ramsey Network: 💸 The Ramsey Show Highlights 🧠 The Dr. John Delony Show 🍸 Smart Money Happy Hour 💡 The Rachel Cruze Show 💰 George Kamel 🪑 Front Row Seat with Ken Coleman 📈 EntreLeadership 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.
0:13.4	Normal is broken. Common Sense is weird. So we're here to help you transform your life from the Ramsey Network and the Fairwinds credit union studio. This is The Ramsey
0:21.9	show. I'm Jade Warshot next to me, Rachel Cruz, taking calls all hour about your life and money.
0:28.2	We have Jim, who's in Phoenix, Arizona. Hi, Jim.
0:33.1	Hey, Jade. Hey, Rachel. How are y'all?
0:35.2	Doing good. How can we help today?
0:37.6	Hey, I've got kind of a weird situation that I want y'all's help navigating.
0:43.1	I received a large gift of silver from a family member, and it was kind of given to me under the pretext of, hey, I really want you to hold on to this.
0:53.9	I think this will increase in value.
1:15.1	I told them that we're working baby step two, and they would be like, oh, this is awesome. It's actually going to cover the rest of our credit card debt. But they really want us to hold on to it. And I'm trying to figure out and navigate the situation. Is it like hold it for safekeeping or it's a gift, but we don't want you to cash it in just yet?
1:16.4	What is it?
1:19.1	Yeah, it was more like it's a gift.
1:20.4	We don't want you to cash it in.
1:22.8	We think it's going to exponentially go up in value.
1:28.5	And, you know, it's funny I listen today Dave talk about, you know, not to collect rocks.
1:31.9	Well, when did they say you could cash it in?
1:41.0	There wasn't, there was really, it was a, it was a, it was a grandparent. So it was really a, you can hold on to this.
1:45.9	Or you can do what you want, but there was sort of a strings attached to a degree yeah which is funny because about two days ago silver went in the tank i don't know if you yeah i actually
1:52.4	had a friend i was debating about with silver and then he texted yeah he's like well not a good day
1:57.5	for my argument i was like no it's not it went down for my argument. And I was like, no, it's not. No. It went down. That's funny.
2:01.7	Well, okay.
2:02.6	So, yeah.
	...

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