The First Thing To Do To Get Out of Debt

The Ramsey Show Highlights

Ramsey Network

Self-improvement, Education, Investing, Business

4.6 • 682 Ratings

🗓️ 17 December 2023

⏱️ 6 minutes

🔗️ Recording | iTunes | RSS

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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.
0:04.3	Start budgeting for free today.
0:06.4	Lori is with us.
0:07.2	Lurries in Milwaukee, Wisconsin.
0:09.1	Hi, Lori.
0:09.5	How are you?
0:10.8	I'm good.
0:11.4	How are you?
0:12.0	Better than I deserve.
0:13.1	What's up?
0:14.5	So I just started listening about a month ago because that is super intimidating.
0:18.9	And so a quick question.
0:22.0	My husband is in grad school, and we have quite a chunk of debt from it. But he just accepted a job with a $30,000 sign-on
0:29.9	bonus that will get next week, even though he doesn't graduate until August of 2024. And so we're
0:36.6	not sure how we should use it. And we've kind of come up with some options.
0:39.8	The first is to pay for the next nine months of living in tuition and not take out any more loans.
0:46.2	The second is to keep it and use it for moving help or a possible down payment for a house.
0:51.6	Or three, it's just pay off some of our debt now to get the
0:56.1	interest down and then take out loans to pay for the rest of our tuition.
1:00.4	The first thing you've got to do to get out of debt is stop borrowing more.
1:04.0	Okay.
1:04.7	So option one.
	...

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