“You’ve Got To Get Your Crap Together”
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- Опубликовано: 24 апр 2024
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“I’m not a dream-killer, but I love killing nightmares.” Best quote of the year.
Hahaha I was just reading this comment as he said that. Crazy.
@@jessecruz7902me too, lmao
+1 that is a great quote
Earns 3300, 1000 for house, 2000 for childcare, there is nothing left! Nothing for taxes, food, phone/utility bills. What a disaster
I think the "It's going to be tight" assumed they pick somewhere else for childcare. She said $3300 net, so taxes are paid, but she literally doesn't understand what a number is if she thought food, insurance, and debt payments would be under $300 a month.
Think it’s $33,000 net (40,000 gross) per year.
That’s even less per month… Def not doable 🤦♂️
They probably wouldn’t pay much in taxes if they’re earning under 50. Once you take deductions and child tax credit, they’d probably get money back. Childcare is the major concern though. You could probably do a hardship deferral on student loan debt…
The $3,300 was after taxes. Still is impossible though
@@cacsoccer101 agree.
Dave's right- being debt free gives flexibility. I went back to school for 3 years, cutting our income in half, but having no debt and some savings, we just lived super cheap. We even had a child with a year left and still made it through. We had no money left at the end, but then things got a lot better quickly...and my wife went to stay-at-home Mom.
How big is your shovel? 🤔
First time I’ve heard someone NOT want to use their parents as free daycare during their retirement years. How unselfish of them😊
I agree with this but also the parents made a decision to have the kid so they are free to stay whenever
Unselfish and responsible parents.
I use mine are occasional child care for a date afternoon or just a break but I’d never think of asking them Monday through Friday eight hours a day. 😅 that’s such a commitment.
I kept my grandkids, but I was paid. Win on both sides.
True, but some grandparents don't want to help :) And if they do, then it could become a toxic situation. "Well i did this for you for free, etc" and use it against them later.
I’m so thankful I found this channel. I’ve started the snowball process at my big age 53. Fortunately, I don’t have the debt a lot of these people have. But the little I have is holding me back. I’m glad to finally be taking control of my finances and it feels good. I love these guys and gal ❤
keep going! we are rooting for you!
If you get into a power company they will train you while working and get your lineman certification. I know. I work for one!
Yeah she was making this seem like something it wasn’t. She said 8-13 months 7 days a week 9to5 and don’t plan on working. That’s isn’t how any school( trade or not) works. And she said no travel… until she sees the money to get his ass out the house for a month.
She has no problem, but wanted to call in with a manufactured problem and has her husband looking like an asshole.
What's scary is that she started out saying that yes they could do it but it would be tight🤯🤯🤯. I was a personal banker for over 15 years.....trust me folks you can not save some people from themselves!!
I fell out when Dave said “so what Wheehhh”👶🏾🍼😂😂😂
He’s so funny
“Call the wahhh balance “ 😂
“This is grown up land” is hilarious. Idc who you are 😂😂😂😂😂
As a guy 1.5 years ago who informed Dave that daycare is at least $1k a month, im glad he finally accepts that reality.
A guy who knows the cost of daycare cannot be taken seriously.
@@amireallythatgrumpy6508 Yes, you really are that grumpy. Why in the world wouldn't a guy know the cost of daycare?
@amireallythatgrumpy6508 I have a kid that goes to daycare, how would I not know?
@@black4vcobra That's usually the mother's job.
@@amireallythatgrumpy6508it's everyone's job who has kids. I remember my dad being the one who wrote the checks paying for mine and my sisters' childcare. Tell me again why a man would not know about how much a couple is discussing regarding how much to budget for childcare?
This is backwards. You go to school BEFORE you have kids. Cutting income by 60% to go to school is ridiculous when you have two kids needing child care.
It can be done IF you can afford it. My mum worked as a nurse part time while studying by correspendece AFTER my youngest brother started school
It's doable in baby steps 4 5 and 6
@@Margatatials That must have been a long time ago.
@@analyticalchick3064 she had her first week the same week my brother started school in 2007
His choice of schooling is reasonable and logical. It sounds like an upgrade to an existing skillset. But they can't afford it.
They need a wait least a year, and possibly until the kids are out of daycare. They don’t know their expenses if they have nothing left over after making $100k.
This, surprised they didn't pick up on it. They're currently spending 100k, start living on 40k (if you can) while making 100k and possibly more with some extra work, you'll either knock the debt out VERY quickly and get some savings to live off of while he's in school, or you'll see how your plan is impossible.
As a single man, all I learned from this is another reason to skip the wife and kids, they slow down your life momentum
Some people are flat out delusional
Yes definitely.
Thanks for the advice! I'm new to financial planning and wasn't sure where to start. Any tips on finding a reliable financial adviser or resource to guide beginners?
As a beginner, it's essential for you to have a mentor that is verified by finra and SEC to keep you accountable. I'm guided by a widely known financial consultant Stacey Macken
Wow...I know her too she is a licensed broker and a FINRA agent she is popular in US and Canada she is really amazing woman with good skills and experience.
Stacey demonstrates an excellent understanding of market trends, making well informed decisions that leads to consistent profit
I remember giving her my first savings $20000 and she opened a brokerage account for me it turned out to be the best thing that ever happened to me.
Yes I can believed that, I got victory with her, was so sad after receiving the first pay knowing I invested so low with fear
I feel like it's common sense to talk about the finances before the feelings. Fact over feeling
She isn't listening and she doesn't want to admit that this is not the right time to pursue this.
3,000 a month in just child care and mortgage when your take home is 3,300 is INSANEEEE. Either increase your income and cut daycare or DONT do it.
A good test. Cut your spending to 33k for the next year. Use his income to pay off the debt. If you cant do it, glad you figured it out. If you can, do it next year with no debt.
"I don't like killing dreams, but I love killing nightmares." 😂
-Dave Ramsey
My wife and I were in a precarious situation. She was going on maternity leave and I was going into student teaching and would be working unpaid besides my part-time custodial job. Fortunately there was a teacher resignation and I got hired as a long-term sub until the end of the school year. I genuinely have no idea how we would have made it otherwise.
You can’t feed a family of 4 with $40k. What is she thinking? What are they thinking?
He's gonna do it they will go into more debt. She just called for validation.
I have worked for a Utility company for nearly 30 years. I have never heard of a Lineman's course that is 7 days a week.
Dave went ham on this call. No chill😂.
I am a bit confused 🤔
So your new household income (if your husband commits to full time school) is $3300
Mortgage is $1000
Childcare is $2000
What were you expecting Dave to tell you🤔❓
I can’t believe some of these callers! They’d better take heed
If they focused on getting out of debt, THAT would be the more efficient and immediate pay raise
It boggles my mind that people don't think through these things in advance. I don't understand how they got this far down the road of him going to school without even considering how they were going to live without his salary for 18 months.
Then they ring and expect a quick fix
Well I consider this call part of the "thinking it through" process. She was on the fence, and Dave's advice was the deal breaker. At least this call wasn't a "hey Dave, we're three months into my husbands schooling and we're broke!"
@@demo2382 Yes, they still had the time to put this schooling on hold before they realized too late that they can't live with a 60% cut in their household income.
I understand wanting to go back to school to get a better paying job. I did that myself in my early 30's. And money was tight. You've got to have your ducks in a row first though. We did, mostly. My wife was the hero there. It was her hard work and steady paycheck that made it possible. I worked in the summers but that didn't bring in all that much money. And when school was in session if I was awake I was in class, doing homework, or working on class projects. A 16 hour long school day was what I called a vacation ;) But 3 years of that and I started out making 3x what I had been making, and with experience I'm now making 14x that amount and at least 7x of what I'd be making if I hadn't gone back to school.
i mean they are making 100k together they dont really need a nother job or more money lol. once kids are in school they be way richer. me and my so make half this but we dont have 35k in debt lol or child care.
I went to school for my MBA by taking classes at night and on weekends....and my job paid for the MBA.
She was wanting permission to go into student loan debt for the end game salary. Permission denied.
I worked for the power company alongside the lineman for many, many years, and trust me he needs to simply get hired first b/c how much they will pay to train you! They are hurting for new hires in that world of work! ALSO, isn't there any type of program or he can learn his craft at night?(aka. Night School certification.)
Go to the bulk rice and bean store cause that's all you're going to be eating to get by.
It's refreshing to hear someone not just assume newly retired grandparents are to be free babysitters.
Having children before your stabilized in you career.
He has a career. This is about a "dream" for another career.
At first she said the math was mathing and then it was mathing. This the real reason people are broke and living paycheck to paycheck. Goodness people THINK!!!
“ No, their 8 to 10 months is not their retirement!” LOL
“I’m not a dream killer, but I love killing nightmares.” Dave is such a legend.
All she heard was pay increase while offering up no personal options to increase her own pay or contribution
I think their best bet is to wait for him to go back to school/this program until both kids are at least in full-day kindergarten. Another 4 years or so. They’d still have to pay for childcare during the summers and school holidays/breaks but maybe the grandparents can help with some of that (a day here and there), and they’d at least have 4 years to save up money they’d need to spend to live on during the time their income is cut by 60%.
Why do these people call in for validation they know they aren’t going to get lol
I will ALWAYS help my kids watch my grandbabies. It's a beautiful gift to be there for grandbabies. I would even move if I had to to help them. I hope her parents can help.
If I was in that family's shoes, I would hold off on doing the study for another year or two. But during that time, they need to pay off their debts and strengthen their emergency fund & general savings.
Brutal honesty.
Another reason to stay outta debt! Especially vehicle debt!
Just golfed with a guy who was a lineman. He said that usually they have work lined up for 2 years in advance, but right now, they will run out of work in 3-4 months. I guess the regional electrical company didn't get very good rate increases and are deferring maintenance.
I’m a lineman and I will tell you there is plenty plenty of work no matter where you are at.
@@debbie7771so just look up lineman work here in CT? Sign me up!
It's bullshit. Cut their exorbitant executive salaries and take care of the grid. That's their job. Tired of getting robbed by Eversource
I'm a lineman and I touched a live wire. I'm no longer a lineman or human@@AlphaAchilles
Girl, my nephew did that right after graduating high school. He got an awesome job but alignment was so difficult on the body, working brutal hours, sometimes 27 hrs shifts and then given only 6 hours off and go back to do another 12 hour shift! He asked for more hours off to get some sleep and the boy got fired. Yes, the boss is terrible but the first two years, you and your husband won’t see each other much because of those shifts and no time off for the holidays. My nephew hasn’t found another alignment job yet, the market is tough
Putting life out of order sets people up to fail. I put off having kids for 8 years while I earned my degrees, graduated, got a job, and then paid off every cent of student loan debt. THEN I had kids with my wife and we have set them a SOLID foundation. And I gotta say, my little family matters so much more to me than my career. Work is just baby food as far as I’m concerned.
Some of these callers sound like Dave is just going say ok I'll cut a check for you, lol. 😅
Someone in my hometown on the Ramsey show.
Same here. Westside.
@@HatedJared no way.. I’m in Jenison.
Eastmont
Great ep
Can grandma and grandpa watch the kids 2-3 days a week? Switching to part time daycare would save $1,000 a month.
Not the responsibility of grandma and grandpa FFS
People who choose to have kids need to work out care
@@ykook7000huh what's the point of family if you don't help each other
Dave loves grown up land. Such a Dave concept.
My husband used work nuclear and income cut by 20,000 a yr doing clsss but he was still making 80,000 and had huge savings.
Why isn't Dave saying the obvious: to do this, they will be putting everything on cards and borrowing from family. No confrontation about how they thought they'd manage it?
This was iffy before she listed the debts...
My wife and I pay $400 a week for a full-time nanny for my 2 year-old .. Next month is her last month with us. We've found a daycare that will cost us about $165 per week.. cannot wait.
A daycare with many clients can afford to be cheaper than a nanny working just for you. I don’t know how she supported herself off so little money. Did she live with you?
Also some people I know with nannies work odd hours or travel a lot for work.
@anndeecosita3586 Yes. Full time
If saving money on childcare is right for you, then please don't entertain getting nannies only to let them go. It's not nice.
@analyticalchick3064 you think I'm gonna live with a nanny forever? At some point, my child needs to be around other kids. That's good for his overall development.
@anndeecosita3586 Yes. Full time. She ain't got pay rent, electricity, water.. she only buys her food.
He’s leaving his $60k job to make an extra $20k IF he graduates. Their math aint mathing.
100k+
starting a family before you're even able to pay for yourselves.
and the children are just collateral damage at this point when you have them in full time care to do this. disgusting, reckless, selfish.
Rice & beans, beans & rice, sell the fancy pickup, the RV, the jet skis, and the snow machines and save up. It's awesome him to be a high-wire electrician, and they will have it made when he does, but they got to prep for it.
Get debt free, and STAY debt free, that way you can actual do the things you want.
It's all about Dave!
omg this call had my heart racing... the stress
I'm glad someone else felt this way too. You know it's a terrible idea when as an outsider, you can just feel the stress of this whole situation. Don't do it! I bet this guy is regretting a few life decisions that led up to this point.😂
Where was the suggestion the wife work additional overtime hours or get a better job for more income?
They do have two kids you know
She has two jobs. She works full time during the day and takes care of kids the rest of the time.
She has to be home with them daycare is too expensive unless they get a family member to help full time and she goes back to work full time husband needs to work instead of school until the kids are old enough to be in school full time
@@jesussaves89yes, and if/ when her husband goes back to school family is already going to be helping full time +. The dad is in school 9-5 including weekends so all of moms work time + commute grandparents would be watching them. You can’t really work an extra job in that case because grandparents are already watching the kids a bunch
@@gracepettersen5282 ya I mean whatever works for them I don’t know them but I think they deff need extra help it takes a village to raise kids for sure in this modern day world and economy! I hope they are able to figure it out and be ok! Blessings and love
The parents watching the kids doesn't have to be all or nothing. If they do half the childcare duty that would cut daycare cost in half. Plus dropping their income that low would totally change income tax situation and take home pay for her should increase. Find some stuff to sell and now we're talking about a chance at revisiting the numbers. At first it sounds impossible but the key is the daycare issue.
You have to ask one of your parents to babysit to save money towards other expenses….you know food
I don't understand. Who has the student debt her or him? Why did they go to school for something and waste the money on college and it doesn't pay well enough? I want know who's debt and what they both do for a living now.
Doesn't matter. They are married and it is their debt. Combined income, combined debt.
He works for the power company, and wants to get advanced training.
@@damondiehl5637 Did she say he already works there? Usually then they pay for it. It matters because I'm wondering if she took out loans only to make 40 a year or if he took out loans only to want to career change a few years later.
I’m not super conservative with money. I’m more of a risk taker and this is scary even for me. The numbers don’t add up, for basic necessities. Wait until the kids don’t need childcare or pay off more debt.
How are you even thinking of doing this when you dont make enough to pay anything other than daycare and mortgage payment? Not even thinking about the debt payments, or food, or insurance, or transportation or anything at all.
talk to your parents if I was the grand parent I would totally watch kids for a year so you can get that place in your life but they seemed to not even see what to do. other option is get a student loan lol.
Are there any state funded childcare scholarship options in your state? Just a thought and best of luck ❤
Childcare being 2K a month is like earing $1300 of 3,300 in income for a full time job. 2/3 is too high.
What is wrong with people? ASK! ASK your parents to watch your kids!!
They have the end game in mind but missed a step in between.
Don't forget food banks, soup kitchens, and a veg garden, folks 🤷♂️
Hey dave the math isn’t in our favor, can you make it work?
Do you really need to go to school to become a lineman? Is there a union? They'll train all the other trades would think lineman has on the job training options. But I don't know
She is claiming to be "a Ramsey kid" and listening to their jingle for 26 years growing up... but has absolutely NO clue.
Well, it's a nice jingle though... let's give her that. 🙄
wait 2 years - 1st year pay off debt with his income and 2nd save his income to help with the bills while he's taking the course
What not got to NLC and get the education and the program is only 16 weeks long.
This is worth taking a loan for
😂
One I think the child care is way to expensive for both of their budgets cheaper to work from home 🏡 also I think she could pick up a second job at home 🏡 so he can go to the program since the program isn’t that long.
“Work 6 jobs”…😂
Take out a line of credit against the home then repay it on your massive pay increase.
*Wow😁, it's crazy how some people can become multimillionaires by investing just $10K in trading within a few months, while others have to work for 40 years to reach $1M in retirement savings. The power of smart investing, right?*
That's awesome!!! I know nothing about investment and l'm keen on getting started. What are your strategies?
That's true. a lot of people today have been
having a ton of disappointments in forex and crypto trading in light of helpless direction and awful specialists
@@Russelbobby45I've been trying to trade but I keep making losses and it's frustrating
Can you recommend a guide for me?
@@natina1957Victoria K Walker, she’s impressive
Wait a year and get rid of the $35K debt. That's going to give them an idea of what it's like to live on a lower cost lifestyle.
This is insane.
This leaves no buffer zone for emergencies
She’s calling because she needs the power to tell her husband. She can’t do it and she’s afraid that he’s gonna leave because he regrets the kids and wants his career.
Exactly my thought!
shouldnt you have thought about this before he even applied? also why does he have to not work at all?
She heard Dave Ramsey as a kid but obviously didn’t listen. They both racked up a bunch of debt and spend too much money
So she makes closer to 60k if he monthly take home is 3,300/mo
Sweetheart, you have kids now. This man is acting like a single man, you do this before you have kids or you don’t do it/work regardless of school…Its selfish. All it takes is 1 kid to get sick and you still have to pay for daycare and take them to the ER!
Biggest takeaway here is that she takes home $3300.....Child care is $2000. If she stayed home with the kids they could go with just 1 car instead of 2. Assuming only a 50 mile round-trip commute including dropping off the kids at daycare at 50 cents per mile means the cost for the car alone is $500 per month. So she is truly working for just $800 per month and missing the chance to raise the kids. Not the best decision. If they go out to restaurants or get coffee for 3 or 4 bucks each day because of the lack of time, then that eats up the rest of the money..........................Also, if they were making over 100K per year, they should have tons of money saved up already and be out of debt, unless they were blowing money on other stuff.
Best thing a person in this situation can do, is skip school. Earn a high income paying career, like sales for example. And then buy rental properties and build equity as the years go by to buy more rentals.
The rental properties way is saturated. Sales is never a consistent job either, everything is commission.
Bless her heart.
He should get his CDL and go OTR
JOHN 14:6😊❤
Recently widowed. Debt Free. A Prepper. I have $1300 per month SS plus Life Insurance pay out of $260,000. My house is worth $350,00. I have 2 cars that are amazing and debt free. This is now my whole life at 69 years old. Your suggestions for the future with what I have to work with. I want to put some of the insurance in something that will make money for me for the future. Maybe something that will earn interest that will compensate for inflation. Even if I am extremely frugal, I still have to live on $20,000 a year. Property taxes, Home owners insurance, car insurance, life insurance, groceries, utilities, gas for car, etc. I have no needs. God has always cared for us.
$20k per year is $1667 per month. So your $1300 SS payment is covering most of that.
You have no retirement savings, at all?
Do you need life insurance? Who will it go to, if your wife is already gone? Might save some bucks there.
Do you need 2 cars? It's fine if you keep them, but there is another possibility for some extra cash.
You could create a CD ladder with the $260k from the life insurance. Buy them with different maturity dates so each month or quarter you have a different one maturing. Then, when one hits maturity, if you need to money, cash it out. If not, reinvest it. That will keep you more or less even with inflation and provides recurring available cash. You could do the same thing with Treasury Notes. CDs and Notes are generally very safe (but don't pay well).
Or you could open a brokerage account and buy stocks that pay dividends. Some REIT (real estate) stocks pay dividends on a monthly basis and have a higher return than CDs. I personally own GLAD (Gladstone Capital) which is currently paying a monthly dividend of 16.5 cents/share. $100k would buy you 4700 shares, so each month you would get a dividend payment of $775.00. I also own MFA (MFA Financial). They pay quarterly. $100k would get you 9400 shares and a quarterly dividend of $3290. A less risky stock like SPYD (not a REIT) would get you 2500 shares paying a quarterly dividend of $930 (higher risk = higher reward). If you divided the $260 between a couple different stocks, you could turn dividend reinvestment on, so some stocks would pay cash, and others would reinvest the dividends by buying more shares. You could actually grow the account that way. But owning stocks carries risk, so if you have never invested in stocks, this might not be the best option for you. There are other investment opportunities like bonds and annuities, but I don't have any experience with them, so I can say much about them.
So, your wife's insurance payment gives you some options. You need to protect it against inflation, and possibly grow it. Selling your home would give you another pile of cash, although you need to figure out where to live. One of Dave's local affiliates might be a good option to help you put that money to work. But, they don't work for free. I've never felt the need for a financial planner myself (although I've thought about becoming one).
Have you heard the phrase “no one cares”?
School isn't going anywhere
Can you not go to school part time for two years?
That’s what I was thinking.
Not how those programs work
Some programs the only option is full time. I've seen computer coding programs that are the same way.
@@howellomaha I understand that but I'd like to think there's probably a flexible option out there.
@@Eric_Bassett I get that but there's gotta be some kind of part time option