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The Ramsey Show Highlights

Should I Live in a Trailer To Save Money?

The Ramsey Show Highlights

Ramsey Network

Self-improvement, Education, Investing, Business

4.6682 Ratings

🗓️ 20 January 2024

⏱️ 6 minutes

🧾️ Download transcript

Summary

Today's episode features Dave Ramsey & Ken Coleman. The Ramsey Show Highlights is a quick, daily dose of advice on life and money in under ten minutes. Hear from experts like Dave Ramsey, Ken Coleman, Rachel Cruze, Dr. John Delony, George Kamel & Jade Warshaw. Part of the Ramsey Network. Delivered to you seven days a week. 💸 Budget for free with EveryDollar: Click Here Learn more about your ad choices. https://www.megaphone.fm/adchoices 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

0:06.0

Nate is with us in Austin Texas hi Nate how are you

0:09.4

uh what's up guys uh how you guys are doing today better than we deserve sir how can we

0:16.1

help all right so I am actually just turned 30 yesterday. I am...

0:25.2

Happy birthday.

0:26.7

Thank you. I am debt free. I am on baby step four, five, and six, I guess.

0:37.4

And my income is about 85 to... five and six, I guess.

0:42.5

And my income is about 85 to 100,000 a year.

0:49.3

So my question is, I'm trying to save up for a house,

0:54.2

but I was thinking of going a different route.

1:03.0

So I want to try to save up as much money as I can for the next two to three to four years, right? And I want to basically buy a piece of land and put a mobile home on it and just try to pay it off in one big chunk.

1:13.2

Okay.

1:14.2

I can save up pretty much 75 to 80% of my income.

1:21.2

You're single?

1:23.8

I have a girlfriend.

1:28.6

But my point is you're not married, and so you don't have to talk to living in a trailer.

1:34.2

No, no, no.

1:35.1

Okay.

1:35.8

So, yeah, so my question is, should I try and save up as much money as I can and try and just pay something off cash?

1:48.5

If you bought a piece of land and put an very, very, very, very inexpensive trailer on it,

1:56.0

that would mean you'd be living rent-free.

1:59.0

And you could, you know, very quickly then save up the money to build a house and get

...

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