You Have a Car Problem

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Ramsey Network

Self-improvement, Education, Investing, Business

4.6 • 682 Ratings

🗓️ 5 August 2022

⏱️ 6 minutes

🔗️ Recording | iTunes | RSS

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Summary

The Ramsey Call of the Day 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, and George Kamel. Part of the Ramsey Network. Delivered to you five days a week. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is the Ramsey Call of the Day, part of the Ramsey Network.
0:11.0	Catherine's in Ocala, Florida.
0:12.6	Hi, Catherine.
0:13.2	How are you?
0:14.5	Good.
0:15.1	Thank you.
0:15.7	How are you?
0:16.6	Better than we deserve.
0:17.9	What's up?
0:19.4	So I have a question. My husband is currently enrolled for
0:25.3	fall semester down at UCF, and we are trying to cash flow college because that is the one thing
0:33.1	that we haven't taken debt out on is a student loan. So we're trying to continue that. And my question is,
0:40.3	would it be a smart decision-wise decision, however you want to state it, to sell our house
0:48.7	and rent for a couple months to get the equity out of our house pay off all of our debt and be
0:58.1	able to cash flow all of his college.
1:02.1	How much do you owe on your house right now? And what's your monthly payment?
1:07.2	We owe $11,000 on our house. And our monthly payment right now is, we owe $1,000 on our house and our monthly payment right now with homeowners insurance and all that stuff is 1,100.
1:21.6	Okay. And how much is the house worth? The house is worth right now. Comps in the area are going for $2.85. I mean, $1,100 a month is a good payment.
1:33.0	If you were going to rent somewhere, how much do you think rent's going to be? It would be.
1:38.8	Roughly, right now we're seeing about $1,600 a month. But the only reason why we thought about doing the renting was because then all of our
1:48.7	credit cards would be paid off, our cars would be paid off everything, so then it would
1:53.7	actually lower our monthly expenses in that area.
	...

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