Quit Running a Race With Ankle Weights On – Pay Off Your Debt! (Hour 1)

The Ramsey Show

Ramsey Network

Education, Investing, Business, Self-improvement

4.5 • 38.5K Ratings

🗓️ 24 May 2023

⏱️ 40 minutes

🔗️ Recording | iTunes | RSS

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Summary

Dave Ramsey & Ken Coleman answer your questions and discuss: "My wife and I disagree about what to do with profits from a rental", "I'm 16-year-old and will make $100k next year; how should I use it?" "How should I use my bonus check?" Selling the house to pay off debt, from the blog: Should You Sell Your Home to Knock Out Debt? Support Our Sponsor: Neighborly Have a question for the show? Call 888-825-5225 Weekdays from 2-5pm ET Join a Personality-led FPU class. Click here! Enter The Ramsey Cash Giveaway for a chance at $3,000! https://bit.ly/TRSgvwy Shop our bestsellers during the $10 Sale! https://bit.ly/TRS10Sale Want a plan for your money? Find out where to start: https://bit.ly/3cEP4n6 Listen to all The Ramsey Network podcasts: https://bit.ly/3GxiXm6 Interested in advertising on The Ramsey Show? https://ter.li/s64ye3 Learn more about your ad choices. https://www.megaphone.fm/adchoices Ramsey Solutions Privacy Policy

Transcript

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0:00.0	And
0:04.5	Live from the headquarters of Ramsey Solutions, broadcasting from the pods, moving and storage
0:32.8	studios. It's the Ramsey Show where we help people. Build wealth, do work that they love,
0:41.5	and create actual amazing relationships. Can Coleman Ramsey personality number one best-selling
0:47.9	author of the book Paycheck to Purpose? host of the Ken Coleman show is my co-host today.
0:53.3	As we answer your questions about your careers and work and money and Ken's show is all about
0:58.6	your work and your career. And we'll both jump in on whatever you want to talk about. The phone
1:04.3	number is triple eight, eight two five five two two five. That's triple eight eight two five five two two five.
1:11.0	Green Bay, Wisconsin. Craig starts this hour. Hi Craig. How are you? Doing great. How are you?
1:16.7	Better than I deserve. What's up? Just quick question, bottom line on front. Am I being
1:23.3	sticking the mud and not wanting to spend money? So some details. 38 married with six kids,
1:31.3	$200,000 household income. Our houses worth probably 900. We owe four seventy five and have no debt
1:41.2	outside of the mortgage. My wife has a 2015 ban with about 15 or with about 90,000 miles on it. And it's
1:51.1	worth about 15. We were to sell it or trade it in. I'm fortunate that I have a company provided truck.
1:59.2	So I have no no vehicle expense there. We're in the process of selling a paid off rental where we're
2:05.8	going to be keeping about $120,000. I want to take all of that and throw that all off that are
2:14.3	mortgage and my wife wants to upgrade her van to maybe a forty five or fifty thousand dollar
2:22.2	to bergen and use you know thirty to thirty to forty thousand of our rental you know our
2:33.1	our income coming back on the on the rental house. And I guess I'm struggling with the whole
2:38.8	reverse engineering because I wouldn't take off or I wouldn't take a loan more on the mortgage to
2:46.0	pay the you know to to go toward a car but I guess I'm I'm I sticking the mud for thinking what
2:52.8	I'm thinking. I don't think sticking the mud is the right analogy although she may have called you
	...

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