Quit Spending Like You’re in Congress!

The Ramsey Show

Ramsey Network

Education, Investing, Business, Self-improvement

4.5 • 38.5K Ratings

🗓️ 11 July 2024

⏱️ 118 minutes

🔗️ Recording | iTunes | RSS

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Summary

📱Download your Ramsey Network App today! Dave Ramsey & Jade Warshaw answer your questions and discuss: "Should we borrow money from my parents to buy a house?" "How should I use a $500k inheritance?" "We are buried in $240k in debt," "What does it actually mean to be broke?" "How much should I help my son's girlfriend?" Support Our Sponsors: Zander Insurance: Go to zander.com or call 800-356-4282 for a fast and easy quote today. Health Trust Financial: Discover Top Health Insurance Plans, All in One Place. NetSuite: Free KPI checklist, visit netsuite.com/Ramsey Christian Healthcare Ministries: Find out more at CHMinistries.org/budget Next Steps 📞 Have a question for the show? Call 888-825-5225 Weekdays from 2-5pm ET or click here! ☎️ Share your thoughts on The Ramsey Show & more! 🏠 How to Buy a Home Course ☂️ Protect yourself with the right coverage—take our coverage quiz! 🚢 The Live Like No One Else Cruise is booking fast! 💵 Start your free budget today. Download the EveryDollar app! Listen to more from Ramsey Network 🎙️ The Ramsey Show 🧠 The Dr. John Delony Show 🍸 Smart Money Happy Hour 💡 The Rachel Cruze Show 💸 The Ramsey Show Highlights 💰 George Kamel 💼 The Ken Coleman Show 📈 EntreLeadership Learn more about your ad choices. https://www.megaphone.fm/adchoices Ramsey Solutions Privacy Policy

Transcript

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0:00.0	Live from the headquarters of Ramsey Solutions, it's the Ramsey Show where we help people build wealth, do work, that they love and create actual amazing relationships.
0:27.8	I'm Dave Ramsey, your host, Jake Washaw.
0:29.7	Number one, best-selling author, Ramsey personality is my co-host today as we answer your questions.
0:36.0	The phone number is AAA 825-525.
0:40.0	Ryan's in Seattle.
0:41.0	Hey Ryan, what's up? Hi, a long-time listener.
0:45.0	I just got an offer for my parents.
0:48.0	They'd help me buy a house.
0:51.0	I'd interned to a contract with them where basically they would be the bank.
0:56.6	They would fund the entirety of the purchase price and I'd paid them back including interest.
1:03.8	They gave me a little bit better of a deal with the interest
1:08.3	at about six and a half percent instead of,
1:11.9	it's around seven and a5 around where I'm at.
1:16.0	And I was just curious on if it was going to be something I should do.
1:21.0	I know we've talked about or you've talked about not buying a home
1:27.2	with somebody you're not married too but it's it is family kind of thing so.
1:37.2	The difference in interest what does that amount to? I'm going somewhere with this. Because that's the break you're getting right that's what they're
1:42.0	offering you is a break on
1:43.7	break on interest that as well as they be purchasing 25% of the home and I'd pay off 75% of the home and then when I sell it they get there.
1:57.0	So the purchase price is 400 grand.
2:00.0	Yeah.
2:01.0	They would be given back their 100,000 and then 25% of any profit that was made.
	...

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