THIS Is the Most Effective Way To Pay Off Debt
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- Опубликовано: 6 окт 2024
- The Ramsey Show (September 19, 2023)
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I am a dental hygienist, and I have been for over 31 years. But I also had my senior year instructor in college tell me that I was wasting her time and my money, and that I should just get out of hygiene school, because I was never going to make it. I truly believe that through God all things are possible, and I wish I could see her now!
Lol. Give yourself credit
If doing what you love doesn't make any money learn to love something that does. I started my life doing what I loved and when I changed to something that pays five times more I learned to love that. The new career pays enough that I can do the first career as a hobby.
I see no reason for someone to cash out hundreds of thousands in stocks while giving the government all that tax money when the family brings in $450k/year and could have the house paid off in 2 years with a 1.75% mortgage and making 3-4x that in the stock market while sitting on 400k in retirement. Stop giving away money to taxes.
One of the summer jobs I had when I got my undergraduate degree was working ina factory that made frozen pies. We made ad shipped three store brands and two major bands of frozen ice cream pies. They all had the same ingredients. I know this for sure as occasionally my assignment was to mix the ice cream mix. Often we would stop the line and simply start to put a different top on the pies as they whipped by. All the same. No difference. Ever since I have bought store brands with confidence.
A friend worked for the McCormick Spice Company and after they filled the name brand jars, they filled all the jars for the grocery stores which would sell for a much lower price. Thanks for posting this!
Landon in Fort Worth. All that money is not yours because you owe money to someone else. Deduct your student loan debts from that 100 K and what’s left over is yours. I would get rid of those loans before your child is born because you’re not only going to be carrying the child on your back but you’re still going to be carrying the loans moving forward. It’s going to be very difficult for you and your wife and your new child to make plans and do things down the road because those loans are still hanging over your head. The bottom line is that debt is a hindrance to your families financial future
Yes. Don’t skimp on ketchup, windex and most importantly, Dawn dish soap!
For the guy in Florida with the car, dave would've told him that the price the dealer gave him is wrong and that he needs to do private sale.
They did such a horrible job with that whole situation. From the start with Ken butting in, to the end with them being cut off on the radio side of things.
I’d imagine Dave would say that amount was the total amount including interest, but the payout amount would be way less than that.
He definitely needs to sell the car, buy a cheap car and pay the loan off. You can’t own a car that’s the same value as your entire yearly income.
After-tax and Philadelphia they should be able to find a very modest living situation in this should be paid off within 2 years.
How expensive is the rent?
Ken Coleman, awesome speech on student loans and college in general. Loved it. Keep up the good work and telling it like it is.
Thank you for sharing the story about the music professor, Jade! I needed to hear it to share it with my husband. Jade and Ken are awesome together💜
Look at where you are now @jade!!! What a testimony!
To The firefighter who called: If you are also a paramedic, you can get a part-time job in any ER on your days off. If you are not a paramedic, ask around to other firefighters and see what side jobs they have ( because most have side jobs on days off) and see if you can help or get your own side job. Handyman, cutting grass, etc. you can do it!!!
Yes, he has so many options. NO excuse not to have a side job and get some more money.
Exactly! I am HR support for our fire department and every single one of them has a side hustle!
I’m with Ken on the high thread count sheets and nice pillows! 😄
I bartend/serve at 2 golf courses as my side hustle. I make $1500-$2000 extra per month during the season and get free golf.
I'm with Jade. As a podiatric nurse, good shoes will make your quality of life better when you're older.
Giving the fact that nurses are on their feet. Probably 95 to 99% of the time, I can empathize with that. If I find out a nurse is buying a $400 to a $1000 pair of excellent shoes, I just nod and reasonable agreement because. A. The type of work they do saves, lives, and be. They are literally on their feet for that long for very long shifts that easily rival if not beat servers in restaurants working doubles.
I love the 2 of you. Your bantering is hysterical!
Ken Coleman needs to run for congress! That was the best student loan rant I heard yet! Classic!
1:59:56 Ooooooh Ken! Your financial aid rant sounds like Papa Dave! I ❤️ it!!! Tell the truth and shame the devil, Ken! You were tell’n the truth about college. Everyone’s career path does NOT include college. Preach!🙌🏾
@jadewarshaw @Kencoleman I am totally debt-free, still working and I have a side hustle. It pays $10 an hour and I work one day a week. This side hustle allows me to play golf for free, which saves me $250 - $300 a month. Basically, I get paid to play golf. Living and Giving because I followed the Baby Steps.
Jade and Ken great combo. Enjoyed Chicago SMART conference! Thank you!
I do NOT buy generic clear food wrap. Go glad! You can count it to roll out every time and it secures leftovers well!
Best remark today!
If you make 120k, after taxes, and health insurance and social security.
Because you earn 120k doesn't mean you bring home that.
Nowhere near that.
$120k turns into $60k real quick
She sang in 193 countries? Wow! That happens to be the exact number of countries in the entire world! She sang in every single country in the world? She is probably the first person in history to visit EVERY COUNTRY! Remarkable! Bravo!
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I love Jades wardrobe of old school bands and or musicians. Cool touch!
Ken said “I’m drippy” 😂😂🤜🏽
Quality paper products go a long way. Consider cost by weight to be a more appropriate method to measure best value. If you're not using more than you need for the task at hand, it is cheaper. Already ran the math. Just don't be wasteful.
Im a stay at home mom, and do doordash while my kids are in school and make about $60/ day with a completely free schedule and no boss.
I work about 4 hours, mostly driving or sitting around waiting.
@kaesch2770 how much do you spend in gas per day?
Ken is on fire! 🔥Thank you Ken and Jade for sharing Jade's college story. I needed to hear that today. Everyone, don't listen to the critics - let it be your fuel; commit and deliver. 🔥🔥
Oh Jade! I’m with you on the linen sheets! ❤ my favorite!
The first caller and her husband made $120,000 yearly. Jade needs to ask if that's net or gross? If it's gross then that's different. They might have all kinds of money like health insurance, life insurance, union dues, etc...coming out of the gross.
The firefighter called works 24 hours on and forty off. How can he work a double shift? That's 48 hours on! He can pick up side jobs or during a forty hours off, pick up a partial shift if it's allowed or deliver pizza even.
I know for a FACT generic TP isn't the same as Charmin Ultra Soft. I've tried several "recommended" generics. They all failed miserably. The same with generic paper towels vs Bounty. Bounty for the win.
Jane is so cute and funny ❤. When she accidentally kicks off the mic at 2:05 😂
I just can't with Jade anymore. She's a robot that doesn't REALLY listen to the callers. So many examples of this happening. The one that made me comment was in regards to the fireman call around the 17-20 minutes mark when he says he's working on average 96 hours a week with a schedule of 24 hours on....48 hours off.....
She then goes on to give him the '"advice" to get out of his car loan to...."Work more than 40 hours and get another job" -Jade...
Pathetic Jade....at least Ken was trying to keep everyone on the same page.....
Poor job Jade Poor job indeed.
24 on 48 off isn't 96 a week, do the math. He most likely meant 96 a paycheck which is every 2 weeks. So sure, she would have been more accurate saying work more then 48 hours but you seem to be knitpicking here cause you don't like her
She does have that tendency not to listen. Like she asks a question when the caller already told her the back story. She really needs to be concise on her answers
@@lilic6747 well if that's the case the op should point out an example that actually supports that instead they did what they were complaining about, the op didn't listen and misunderstood what the guy said and twisted it into a way to criticize jade
Hey guys! I made $250 for a 3 day board of a dog in my home during Labor Day weekend. 🎉 super easy and lots of fun. Best side hustle for me in my opinion. 🐾💕
I loveeeee Jade haha, that’s my idea of a “cheat snack” too, vegan(ish)/vegetarian here
I love this show so much you guys are killing it!!!
Ken was brilliant today.
I love you guys - too AWESOME!!! for KEN: I watched the Thur show, and I do enjoy drinking my coffee straight - nothing added. Jade chose well with Cafe Bustelo *BUT* you need to try the big yellow/ colorful box they have called "COLOMBIA" and add nothing! I'm not a girly girl but served 20 in the Army. This is the BEST coffee (to me) that you can drink straight (and I've stopped around)! Bold and delicious!! I have gotten many hooked - especially us older women who don't need the extra calories of creamer & sugar 🎉Keep doing what you do - love the whole Ramsey Team!!! ~M
I’m with you Ken, I love nice sheets and a good mattress.
Amen Ken on that rant!! Another ⭐️⭐️⭐️⭐️⭐️ with my girl Jade and brother Ken! ❤
With Inflation in our Arkansas city a number of apartment complexes have booted everybody out to raise rent prices.
At our apartment complex our rents going up over $300 a month
Many
People on disability cannot afford a lot of places by themselves
Qtips vs generic ear swabs
What we won't buy generic: Nasal Spray ( Afrin) vs store brand. We cannot find a high moisture store brand nasal spray to help during colds, ever. I'll spend the $3 extra 2x a year for a better nasal spray. We also will not buy cheap jell-o mix (gelatin) because it's usually cheaper to buy the 6oz name brand vs the store brand 3oz box x2.
I’m on rover, I charge 50$ per 24 hours, and 35$ for 8hours daycare. I make about 600-1000 month. Just having dogs come hang during the day. I’m a stay at home mom.
My site hustle is reffing soccer. I have made about $7500 so far from reffing. I could make over 10K if I did it more but trying to balance spending time with my wife and three kids. This is on top of my main job where I work about 50 hours a week but also have an hour drive each way so really its closer to 12 hours a day.
I’m with Ken I need my bed to feel like a cloud. The hell with those new shoes! Lol😂. OMG PHILADELPHIA CREAM CHEESE! I am an Aldis shopper, but I make a special cream cheese stop! I said what I said!
Publix Mac in cheese 2.99 vs Velvetta is ~$6.00 - kids tried last night and can’t tell difference
I love how he put it about the system. 12% is crazy
I don't like 700 thread count sheets. They're too soft, they wrap around your body and you get trapped in them. No, thank you. Give me a crisp cotton percale any day.
L
Jade spoke perfectly on that call with Hussein
I'm with Ken on this one, 900 - 1000 thread sheets! Jade, you must try it! Ken and Jade!
Car, home, paid off, no loans, some gold as reserve but food skyrockets. Cash reserve only 225 a month. 😢😮
I don’t think they laid out a great case for paying off low interest rate school loans before tackling a high interest rate mortgage. Why wouldn’t you want to put yourself in a position to where you are no longer paying thousands of dollars every month in interest to a lender before you attack a much smaller debt that isn’t near as much of an interest burden as the mortgage, especially when those are the only debts you have?
Love my girl Jade, we both love the healthy foods 😉 🙌 🌿 hey, if we ain’t got our health, it’s a not good Jim situation haha.
Ken is hilarious
name brand Cheez-its and Ritz are the best! Generic just don't compare, although we eat the generic as they are less expensive and can be purchased at Aldi.
To the person with $100,000 in savings and $65,000 in student loan debt and can't figure out whether to put money on the mortgage (with a higher interest rate) or the student loans. PAY OFF THE STUDENT LOAN DEBT! You don't have $100,000 - you have $35,000. Those student loans cannot be discharged, even in bankruptcy. You never know when a negative life-changing event can happen - a disability from an accident, a loss of a job, etc. You can sell the house and downsize if you have to. You can't sell off your student loans!
Loved the Ken rant!!
Nice rant Ken
You missed one thing on Christin. She said "my savings". Why isn't it OUR savings? And why didn't you ask her "How much in savings?". Where is her salary going if they are only occassionally needed to dip into HER savings?
The firefighter, was he drunk when he signed a 16% note?
Nothing says I'm a rich guy like Ken saying he'd rather have fancy sheets than good footwear
Liar. There are only 195 countries in the world. She did not sing in every single one.
PREACH KEN LETS GOOOOOOOO!!
Great team
Send the kids to Ken’s shoe😂
i disagree Jade if you are on babystep 2 there shouldnt be oreos or twist and shouts those are both luxuries. beans and rice :)
I refuse to get off brand Doritos!!
Oh, I can’t wait for that show about the name brands versus generics. I don’t settle on my coffee. I’m a coffee connoisseur. I have problems with generic health and beauty aid items. I can’t buy generic toothpaste. I have some wiggle room with the toilet tissue between three or four brands and I pick the best price This is a show I’m looking forward to lol because sometimes when I’m in the store I’ll have that inner monologue going. Debating whether I should branch off and go with the generic or stay with the namebrand. As I mentioned, there’s certain things I won’t budge on.
Same with the coffee! As soon as I got out of debt, I decided that it was okay that I treat myself to great coffee (to make at home). I drank terrible coffee beforehand to make the sacrifice! Glad I don't have to make that sacrifice anymore. haha
Love it !
For David in the second hour, isn’t 5% of $600k $30k per year. There’s your income if that’s what you’re looking for with no hassle whatever. If you want to make more in the stock market that’s cool too. And you don’t have to deal with splitting it with your brother.
This rude woman proves challenging economic times like these reveal the true deplorable character of certain individuals.😮
I've never seen Ken so riled up and passionate. I like it.
I’m with Ken! Sheets matter!!!
When Jade is host she won't let nobody to talk
The car note is too high for hm. He should get rid of that stupid car. 700 is half of his pay check
90k in student loans to make 60k a year?? You can make 60k working at McDonald’s with no degree... Good lord.
I shot fireworks as a side job I slit 10% of the budget so 60k is 6k split with four people not bad if anyone want to join
I’m with you Jade I am more the pillows then the sheets. I have to have Charming TP.
Charmin is charming...
what is baby steps
Kraft Mac and cheese can not be substituted for the cheap stuff.
Homemade is still the best!
Homemade is still the best 😊
@davidb2206 I said for the cheap stuff. My wife makes amazing mac and cheese, but it isn't cheap.
Ken's new side-hustle... Car Broker
He's not kidding when he says you can buy used cars far less expensively than in some home towns. I've never done it, but my friend and her husband have always flown (one-way) to the city where they plan to get a used car (usually somewhere in Florida b/c of all the military who claim that as their home state) and she has saved THOUSANDS.
GENERIC VS NAME BRAND: SOUR DOUGH BREAD!!!!
I have a question for Ken, can you make recommendations for small businesses to start after retirement? I really don’t have to work after retirement but would like to do something. Do you get calls like this? Any suggestions? It’s just something I am tossing around.
Handyman services if you are capable in such things.
Consulting in the line of work that you have done thus far.
You can't spell hustling without Hussein
Generic Oreos are terrible in comparison
LOL! Jade lied again!!! Like EVERY RAMSEY PERSONALITY! ALL COUNTRIES ON THE PLANET!!! xD
Ken for president
Today's duo forget to tell Landon to be in "stork mode" for the next few weeks until his baby is born.
Instead, telling him 'pay it off today' around the 24 minute mark.
Thought that too. Wait till after baby is born well.
Probably because he had so much saved and so much in debt. He could move that money in the blink of an eye and not change monthly hit in his wallet negatively. Stork mode is more for when you're going to need to be intense to pay debt down.
Exactly!
Where is kristina ellis?
She got fired back in April.
I don't think she got fired - she has her own very successful business helping students get through college without taking on student loans.
Where's the evidence she was fired? Just because someone leaves doesn't mean they were fired. @@bettedavis9261
I refuse to stop drinking tap water and paying extra money for bottled water!
People who buy bottled water instead of drinking water from the tap are pathetic snobs.
Yes!!! I just don't understand buying water when you already have a water bill. If the taste is that different to you, get a filter for your tap.
hi
$90,000 in student loans?!! 😢😭
😂😂😂 You must be new here
@@actuallyterry haha the other day someone was $220,00 and i didnt even flinch lol
That's b/c people haven't been used to considering their loans for the past three years while they've been on "pause." Payday isn't always Friday, but it's always someday! @@jillkennedy6993
Awesome
👍about Thurs
Crap. 800 a month for a room. Sounds like Austin
Lets goooo 💪🏾💪🏾💪🏾
aqui comoendo
And……can’t the bank go after him even if he turns the car in voluntarily?
I have debt
Bring back Dave this was cringe