This is the Ramsey Call of the Day, part of the Ramsey Network.

Joining me today is Ramsey personality, Ken Coleman.

Kathy is with us in Phoenix.

Hi, Kathy.

Welcome to the Ramsey Show.

Hi, thank you for taking my call. Sure. What's up?

Well, I'm not calling for myself. My husband and I are debt-free and have really just always

lived, you know, by saving money and not living beyond our means.

I'm calling about my son because we constantly have a battle with him.

He is 24 years old.

He's amazing.

He has worked a full-time job for the last two years since he graduated.

And he also sells tennis shoes on the side.

And he has saved up about $120,000.

But he does not believe in putting any of his money into the bank.

He tells us, why would I do that if I make 20% by reinvesting it in tennis shoes and reselling them?

So now he makes $60,000 a year,

and he's made in the last year about $60,000 profit from selling tennis shoes. So all that money just goes right back into tennis shoes. And I guess I'm old school. It's hard for me to understand

that he's not putting some of it away

and not just reinvesting it constantly in tennis shoes. And he just recently bought a car

and he put down 10,000 and he's financing 20,000 and it's at a 6% compounding interest.

And I'm telling him, no, you have the money, pay cash.

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