You Do Too Much Good To Be Broke (Hour 2)

The Ramsey Show

Ramsey Network

Business, Education, Investing, Self-improvement

4.6 • 36.7K Ratings

🗓️ 20 July 2023

⏱️ 39 minutes

🔗️ Recording | iTunes | RSS

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Summary

Dave Ramsey & Rachel Cruze answer your questions and discuss: Preparing to go down to a single income household while paying off your house, from the blog: How to Pay Off Your Mortgage Early How to navigate Baby Step 3b and Baby Step 4 at the same time, "Should I pause investing while paying off $100,000 of student loans?" from the blog: Pay Off Debt or Save for the Future? Want to learn more? Go to RamseySolution.com/StudentLoans A Debt-Free Scream from a single woman who found confidence to change her life with Dave's common sense financial advice, from the store: The Total Money Makeover by Dave Ramsey Why it's ok to leave a low paying job even when you work for family. Support Our Sponsor: Zander Insurance NetSuite Neighborly Have a question for the show? Call 888-825-5225 Weekdays from 2-5pm ET Here's an EveryDollar deal just for our listeners: get a 14-day free trial PLUS $15 off your first year of premium. Click the link below and start budgeting today! www.everydollar.com/TRS 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 Ramsey Solutions Privacy Policy

Transcript

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0:00.0	Music
0:28.0	Live from the headquarters of Ramsey Solutions, broadcasting from the pods moving in storage studios.
0:34.0	It's the Ramsey show where we help people build wealth, do work that they love and create actual amazing relationships.
0:44.0	Rachel Cruz, Ramsey Personality, number one bestselling author many times over and co-host of the smart money happy hour broadcast podcast here on the Ramsey Network,
0:54.0	so long with George Campbell. She's my co-host today, my daughter as well. Open phones, a triple eight, eight, two, five,
1:00.0	five, two, two, five, Anthony starts this hour off in Houston. Hi, Anthony, how are you?
1:05.0	I'm good about you all.
1:07.0	Better than we deserve. What's up?
1:09.0	So my wife and I want her to be a state of my mom once we start having kids.
1:14.0	But if we go down to just my income as it is now, we'll be house poor.
1:19.0	So I'm in a field that has overtime and my idea is to just throw money at the principal and then refinance from our 30 year to a 15 year fix rate and hopefully bring our monthly payment down.
1:34.0	Does that make sense?
1:37.0	Well, you would reduce the principal enough that going to a 15 year would not cause your payment to come up and you can reduce it even more, I guess.
1:46.0	So what are you all on the house?
1:48.0	We just bought it and it's approximately 174,000.
1:54.0	And what are you making? What does she make?
1:57.0	I bring in after tax times and benefit approximately four before overtime for income varies, but 800 to a thousand is ballpark a month?
2:09.0	Yes, yeah, a month.
2:12.0	You're talking about take home pay?
2:14.0	Yes, sir.
2:15.0	So she's not working full time?
2:17.0	No, sir.
	...

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