Smart Money Decisions Often Mean Sacrificing Today for Tomorrow

The Ramsey Show

Ramsey Network

Business, Education, Investing, Self-improvement

4.6 • 36.7K Ratings

🗓️ 2 May 2025

⏱️ 88 minutes

🔗️ Recording | iTunes | RSS

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Summary

📈 ⁠Are you on track with the Baby Steps? Get a Free Personalized Plan⁠ 📱 Watch the full episode for free in the Ramsey Network app. Dave Ramsey & Jade Warshaw answer your questions and discuss: How do we handle debts when dissolving a family business? Our mortgage is going to be 50% of our income Is it necessary to at some point get a credit card? Is it ok to enjoy our money while we're still young? Our landlord is starting to become hostile; should we move? When is an emergency fund no longer necessary? Next Steps: ✅ ⁠Help us make the show better by taking 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.⁠ 💰 ⁠Hurry—Your chance to win $5k is almost over! Enter the Ramsey Cash Giveaway today!⁠ 💵 ⁠⁠⁠⁠Sign up for a free training with our EveryDollar team! ⁠ 🎟️ ⁠⁠⁠⁠Dave Ramsey and John Delony are going on tour this month! Get tickets today⁠⁠ Connect with our Sponsors: 🛒 Stop paying more and start shopping smarter at ⁠Aldi⁠ 🌱 Get 10% off your first month of⁠ BetterHelp⁠ 📱Go to ⁠Boost Mobile⁠ to switch today! 🏥 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! 🥗 Save 15% on your first ⁠Field of Greens⁠ order with code RAMSEY ⛨ Find top Health Insurance Plans at ⁠Health Trust Financial⁠ 💸 To find out more about student loan refinancing, check out⁠ Laurel Road⁠ 💻 Visit⁠ NetSuite⁠ today to learn more 🗂️ Use promo code RAMSEY for 18% off at ⁠The Nokbox⁠ 💵 Learn more about ⁠Timothy Plan⁠ 🏛 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	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.
0:24.6	I'm Dave Ramsey, your host.
0:26.1	Thank you for joining us.
0:27.2	Jade Washaw, number one bestselling author and Ramsey personality is my co-host today.
0:33.5	Robert is in Washington, D.C.
0:36.0	Hi, Robert.
0:36.6	How are you?
0:38.2	Doing great, Dave.
0:39.3	Thanks for asking.
0:40.1	Glad to have a little bit of time on this show with y'all.
0:43.7	Well, we're honored.
0:44.5	How can we help, sir?
0:46.7	So I have a family business that we've been managing for about seven years now.
0:52.1	It's going to be closing down in the next couple months, and we're going to be due
0:55.9	to owe about $160,000 in debt.
0:59.9	How can my wife and I attack our share of the debt while also protecting our household
1:04.1	finances?
1:06.1	Okay.
1:06.8	Who owns the business?
1:09.5	So the business is a split between my mother-in-law, father-in-law, my sister-in-law, and her husband, and my wife and I.
1:17.8	It's not exactly one-third all the way around, but it's pretty close.
1:22.7	Okay.
	...

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