Hubby and I paid off about 15k so far in 3 months. 30k to go then we'll start trippling up on our mortgage payment and start saving for 6 months of expenses and for our 2nd house down payment. We will keep our current home and rent it out. It'll be paid for in about 4 years after trippling the mortgage payment. So excited for our future and we owe it all to God. 🙏🏽🙌🏾🥳
Some people say that marriage certificate is just paper. Thank God for this show that 'just a paper' carries so much weight. Thank you, Ramsey Team! Watching from London x
I keep a credit card for security as well for the same reason.....I can't risk my main bank account getting hacked.......my smaller checking account got taken for 1000 with in a week from using my debit at a local gas station. It took 2 weeks to get it back. This is exactly why I can't get rid of a credit card completely......to much online stuff , too much risk for hacking
^^This. I'm NOT cutting up my major credit card. It's "insurance" for me in the event I can't get access to cash. I'm disciplined enough not to carry a balance.
I agree with you 💯. I really don’t see a problem in using a credit card especially when traveling. If people live below/within their means and pay it off every month it’s a peace of mind for me.
That’s one of the reasons I pay in cash like they recommend. “Pay everything in cash” and you’ll have no risk of anyone hacking your accounts. I’ll use debit Visa or MC when traveling. Keep as much cash as you can at home just in case anything happens with the accounts.
@@nydiaotero314 before covid that worked just fine but many places are cashless now and you cant order online in cash. My card was hacked on line and taken for 1000 in a week.....can't have that happen to Bill money and wait 2 weeks to get it back from the bank. I wish it wasn't that way because I truly don't like have to us a credit card. But with needing to do on line purchase I don't have much choice
I forgot to give kudos yesterday to Mr. Ken, Coleman, and George kamel. Those two together are hilarious, they are the best. And their chemistry together. I swear I find myself laughing so hard. Next I like Jade Warshaw and George Camel together, and then I like when Dave Ramsey is with Jade… What great combinations. Dave Ramsey’s info has given me life:) Thank you sir.
Way to go, Terrell!! Keep it up! Stay focused, stay prayed up, and keep making smart decisions. Wisdom is better than credit & you’re walking wisely Brother! 🎉👏🏽💪🏽
Jade is right about marriage. Living with someone for 12 years and two kids together and not quite sure if marriage is for you, especially since you can't afford the big wedding (otherwise known as the party)? I guess some folks just can't make up their minds. Many women are unaware of all the financial benefits of being married. For one thing, if a husband is a higher earner, a wife can qualify for his social security benefit when he dies if she is still alive if they have been married at least 10 years and a day. (Wives usually outlive their husbands.) In the meantime, she can qualify for half his social security while holding off on claiming her own at a later age which means more monthly income. Doesn't matter how many times the husband has been married - EACH of his wives who has been married to him for 10 years and a day can claim off his social security (if he is the higher earner.)
@@myoldvhstapes Actually, they're living like they are married, so what would be different? You're right, though - but my point is that women who make these kinds of choices often realize later in life that they have lost out financially (unless they're the higher earners.) Some choices look very different in retirement years.
Your are right but men who aren't high earners living with women who are high earners usually end up with nothing too especially if he lives in her house. If she passes the family kicks himo ut and he is too old or sick to get with another woman. He ends up in a destitute situation.
I don't think they really understood what Molly was saying about being abroad with her credit card. They're saying you're protected. Molly was saying, "Being stuck with without the funds to continue or get back. Of course the bank is going to give you your money back... but are they going to put back before we hangup the phone with them? You need your money right now....not in 20 business days!!!
The rental car thing puzzles me. I can rent a car at a local agency with my debt card, I can rent a car at the airport with a return flight. Fine. I had an issue on a motorcycle trip where I was going to have to leave my bike for some repairs but needed to be back home for work. I could not rent a car out of town with a debt card or no flight out of that airport. Because of that one issue, I got a credit card for traveling emergencies. Hadn’t had one in 6 years but didn’t want to be stranded without options again.
I used to manage a rental car agency. You're correct. A work around is to have the shop confirm your vehicle is there and rent from the branch closest to the shop. It sucks to be caught by the rules. The easiest thing to do is keep a credit card for these things.
Just not going to buy the Ramsey line of no CCs and have all this hassle. I pay mine off as soon as a charge posts and I'm certainly not giving them up. It's not my problem if other people can't be responsible with theirs.
So you got a credit card foe something that may happen once ecmvery 6 to 10 years? That's not really the best idea especially since credit card companies will close credit cards for not being used. I have a feeling you are going to start using that card for daily expenses.
@@dreams2383 It doesn't matter WHAT I use them for. My point is that I treat a CC like a 2-3 day debit card b/c as soon as a charge posts, I pay it. I do not wait until the end of the month. I don't pay any interest - never have - and I use the points for part of my "generosity." For example, from my Sam's CC I had $25 in "Sam's cash" this past weekend. Used that $25 to buy food for the church pantry without it costing me any money from the budget. Had over 20,000 points on one of my CCs - used that to purchase four $50s gift cards for birthdays for relatives - again, didn't cost me any extra. So, no, I'm not giving up my CCs. Contrary to what folks on here say, the benefits ARE worth it to me. They cost me nothing and it's not my problem if other people cannot be financially responsible. Each person has to know his or her own limits and temptations.
Any amount of money I get back in my federal tax return is paid directly to the state of Maryland in taxes owed… so annoying. Thank you for busting myth #3.
@@OopThereItIs77777 those are the old days because now they don’t want to sell them for cash because they mark up the APR 2% to make money, I walked into Carmax with 80k .. plus u have 7 days to take it back if u have issues .. I promise it’ll take you 5-7 days to get your cash back
@@Brucefulness yeah and what if the car messes up.. it’s better to pay half and drive it around for seven days to see if it fits your lifestyle instead of putting all cash you won’t get your money back for 5 to 7 business days. I walked into Carmax with 80k
Tax withholding has been tricky for us the past couple years because my husband gets bonuses a couple times a year that are variable but are always taxed at a higher rate than the paychecks. For 2022 we apparently had underpaid to the point where we were worried about a fine or audit. Thankfully had cash to pay it. But we recalculated and changed our withholding several times last year and now are estimated to get over $6000 as a refund this year.😳🤷♀️🤪 Paychecks are in the 22% tax bracket, 3 kids, and standard deduction... I think it's the big lump sum bonuses that make it weird.
I've always signed documents eith a new job to take more withholding tax so I never had to worry. I get that it's my money and they're making interest on it, but the security is worth it. Employers usually remove more on lump sums if the income is close to the max in the bracket. Glad you did that as its so so helpful❤
@39:07 Caller has never known what $240K in DC is with no payments feels like every month, their income is just out the door every month to someone else. Be Debt Free! Crush it!
Yes, you can reimburse yourself from the 529 in the same calendar year that you spent it. It also has to be a qualified expense (tuition, room & board, books, etc). You can also transfer it to another relative (like one of your kids in the future). Definitely read up on all the ways you can use it and how to reimburse yourself. If you use it for non-qualified expenses, then you have to pay taxes on the earnings AND a 10% penalty. So definitely use it for education needs
So I was laid off in August, and finally God blessed me with a job this week. Have -$21,257 ($500 min. payment monthly) in debt on one credit card, -$1,961 ($180 min. payment monthly) in debt from a personal loan. Around -$700 in medical debt. Then I owe -$200 to the IRS from 2022, but they also owe me $500 from 2021. There is also some other medical debt, but it’s because the provider did not bill the correct insurance so this will be straightened out. I froze my credit card last month, and am gonna cut it up. I will be saving up for a $1000 emergency fund, what do I need to do after this in my situation? And also when I am eligible for a 401K, what percentage of my paycheck should I start with? (Pay is $20/hr, full time in CA, rent is $1000 until I can afford to contribute more)
We just used our tax return to pay off our truck. No more auto loan🙌. We owe our 3 vehicles outright, we’ll drive those vehicles until the wheels fall off.
I just watched the taxes portion and we would love to be able to change my husband's withholding but the IRS has locked down our withholding numbers because of us having had to pay back taxes. We have been trying for the last 2 years to get them to send us the letter stating that the taxes are paid so that HR can remove the lockdown. Our refund is between 10 and 12 thousand.
Wow. I’m worried about having the same problem. We will probably owe the irs about $12,000 for 2023 due to me being a 1099 contractor for my side hustle. I’m afraid if we do the withholding we will have the same issue. I hope your problem gets solved soon
That's what we did. After a texting driver ran a stop sign and totaled our car 5 years ago, we decided to try going car free as we have good public transit. We're still car free and that saves us a lot of money! It's great to be free of the road and parking ragers. It's good for our health because we walk more and good for our relationship because we talk more.
Last year we got about $10K in federal tax return, but since we have 4 children and only made $48K, we didn't pay much during the year. We could pay $0 in taxes and still get a huge return at this stage. This year the return will be much lower ($7K) because we have one child aging up to the lower amount and the tax credit for children was somewhat silently lowered (I think to pre-pandemic amounts). We are excited for the refund because we will be able to put 90% of it towards our mortgage (10% to giving). It'll get us closer to debt freedom, not a vacation or silly spending.
No one will ever be able to drive the point home like Dave. Rachel is close but can be biased and John as well when the caller is emotionally charged. Everyone else relies too heavily on regurgitating the baby steps despite all being charismatic and likeable
Good afternoon I started listen to your station on WWL New Orleans in December 2023 I have a situation that I have to make a decision on selling one of my properties verses renting. I have three properties ( CA Bay Area, Alabama, and Louisiana) free and clear just properties taxes. My two daughters have their own homes and NOT interested in inheriting any properties. I am retired I am a saver my net worth is approximately 3.5 M ". I can’t believe it myself". I receive approximately $7,000.00 monthly from SS, Pension, 401, and rental after working 52 yrs. I budget all my life and still budget. Should I sell the house in the Bay Area or rent?
Nothing like being on vacation and having $4k pulled from your checking account as fraud. Now ur debit card is locked out and your SOL. Ask me how I know.
She is not minimizing marriage. She is pointing out that they have been acting like a married couple for TWELVE years, so why not make it official? There are many benefits to being married besides just true love - and they have two kids together.
We have to have additional withholding taken out of our paychecks so we don't OWE money at tax time...and we still owe a little bit. It's been like that for over 20 years. Ugh
i know the feeling. i claim single and zero dependents for my work to take out the max for taxes in addition to additional withholding and I still owe taxes.
The protections are not the same and it is safer to use a credit card. Having a credit card is fine as long as you can manage it which it sounds like she does just fine
We pay just under 1,000 each year in taxes. I put $100 a month in savings to cover it. We keep it there, because if you owe more than $1,000 there's a penalty.
We got a $6300 refund this year. Meh. :\ However, 10% went to tithe, and the other 90% went ALL back to Uncle Sam in Federal Student Loans. Not saying this as a brag, but man it was good to see that balance drop $5k+ all at once! This is NOT praise to the IRS or DOE or the Government though... just understand that you all!
0:00 Totally on-topic question -- how did the Ramsey show score "Baker Street by Gerry Rafferty? My nostalgic heart hurts - anyone else think that song is a masterpiece?
Every time they tell people about the safety and protection of marriage I cringe. I think of my friend sleeping on someone's couch for a year now because his wife took his vehicle and his house...
Terrell is playing games. Why have you been buying cars for years? Why is your entire networth the $80k you have saved? Retirement investments…. Get another hooptie and move on
Likely because there may have been a problem that was ignored in which case it is not up to the insurance company to pay. Water damage can be extremely expensive to repair or replace. Very slow leaks often happen under the house and the homeowner is not aware until the floor starts buckling, etc. That's one reason it's so important to not only have the underside of the house checked regularly, but also to scrutinize your water bill to see if it seems higher than usual. There is often a problem, too, with toilets because the water in the toilet can go up and down almost silently when the toilet is not being used and can result in huge water bills.
Anybody else just fast forward on the multi-millionaire’s conundrum on whether he should use a coupla hundred thou on his debt??? Was he serious with that call? That was a joke, right? 🙄
Actually, not to give money to the government every month, you have to lie on your W-4 form, count the neighbor's kids, the cats and the dogs in the neighborhood to come up with a high number of dependents
I bought a $65k car for $30k (after govt and Black Friday discounts) brand shiny new off the lot. Shop your deals. & by the time as done, Chevrolet paid me $50k cuz they couldn’t keep up with the recalls and the electrical failures their servicemen weren’t trained to fix. U never know… Listen to God about YOUR finances and YOUR debt free life
They said in todays show to use your emergency fund for what it’s intended for and I was under the belief that baby step three was for a job loss. Guess I miss understood?Thank you for your response!
So set 3 is the 6 montj emergency fund so I would say just keep it at that but where possible save for other things so they dont become an emergency fund. I have an emergency fund but Im having a little sinking fund for my dog incase she gets sick even though if it would happen right now it would be an emergency fund expense.
You should have a separate housing maintenance fund of 1-3% of the insured value of the house. If the house is new, the find should hold 1%, if the house is old, save up 3%.
48 YRS OLD NEVER HAD A CREDIT CARD IN MY LIFE AND NEVER WILL...THE THOUGHT OF BUYING SOMETHING WITH OUT TOTALLY PAYING FOR IT...WOULD DRIVE ME CRAZY...I LIKE BEING ABLE TO PAY CASH AND NEVER HAVE TO WORRY ABOUT IT..ONCE I LEAVE THE STORE...
I use a credit card, which is paid in full every month. I use it for online purchases, which are often cheaper than physical stores. I earn reward points with it that I'm saving up to use toward a flight I'll be taking later this year. I was terrified of credit cards and only got one - with a very low secured balance - because there are times when a good credit score really does make a positive difference. I still keep my upper limit capped, and have alerts on my phone. Every time there's a charge to my card or my checking account, there's a beep and a message. I never use my card for anything I couldn't pay in full with cash.
Is there a speed limit on how fast they talk? Talking too fast, laughing while talking and constant change of program volume are terrible issues with the Ramsey Show. These people could use some professional speakers training/ counseling.
New cars do not lose 60% of value/depreciation in 4 years, that is old data. Buying a new car isn't a bad option if you can afford it and don't have other expensive hobbies
They lose a LOT more now. New cars are specifically designed to have a lifespan of 7-10 years now. They're intentionally making cars that will not last a decade because they have realised if you make people buy cars more frequently, that will increase sales and therefore their profits.
At 82 I’m starting to pay off my debts. I have paid off three credit cards. Wish me success.
Woot woot! Good on you 😊
Never too late to be free 🎉
Bravo!
This is great!
Well done you !!
I just paid off my car and 3 credit cards!! I feel great. Now, tackling 35,000 student loan and one last credit card. Lets go!!!
Hubby and I paid off about 15k so far in 3 months. 30k to go then we'll start trippling up on our mortgage payment and start saving for 6 months of expenses and for our 2nd house down payment. We will keep our current home and rent it out. It'll be paid for in about 4 years after trippling the mortgage payment. So excited for our future and we owe it all to God. 🙏🏽🙌🏾🥳
Jade and George are my favorite Ramsey personalities 100%
@Repent-and-believe-in-Jesus1to get i😮 it I think so we have to 😅😂😊cgootdoknolmjolnolbokpljoo
Ah, yeah I see a lot of people here with no taste.
First caller is a breath of fresh air no debt 80k saved and making good money let's go
I’ve paid off 14 k in debt so far this year. Another 28 and I’ll be debt free minus the house
“You need to get you financially fit so you can move better and think better!” Wow that was the best comment I’ve heard! Thanks Jade!!! ♥️💪🏽💪🏽
If we all moved better and thought better, we wouldn't be in debt 😅
Love it when its George and Jade!🎉
We need the Jade Warshaw RUclips channel or podcast! It's about time!
Some people say that marriage certificate is just paper. Thank God for this show that 'just a paper' carries so much weight. Thank you, Ramsey Team! Watching from London x
Jade is so passionate to help people.
Great show today, really kept me focus while I was doing doordash today.
Git it!!! 😊
I'm listening now as I do instacart 😂
I only watch this show now while dashing it keeps me going! 😊
I keep a credit card for security as well for the same reason.....I can't risk my main bank account getting hacked.......my smaller checking account got taken for 1000 with in a week from using my debit at a local gas station. It took 2 weeks to get it back. This is exactly why I can't get rid of a credit card completely......to much online stuff , too much risk for hacking
^^This. I'm NOT cutting up my major credit card. It's "insurance" for me in the event I can't get access to cash. I'm disciplined enough not to carry a balance.
I agree with you 💯. I really don’t see a problem in using a credit card especially when traveling. If people live below/within their means and pay it off every month it’s a peace of mind for me.
@@striperkidsame here. If I use it, I pay it off immediately.
That’s one of the reasons I pay in cash like they recommend. “Pay everything in cash” and you’ll have no risk of anyone hacking your accounts. I’ll use debit Visa or MC when traveling. Keep as much cash as you can at home just in case anything happens with the accounts.
@@nydiaotero314 before covid that worked just fine but many places are cashless now and you cant order online in cash. My card was hacked on line and taken for 1000 in a week.....can't have that happen to Bill money and wait 2 weeks to get it back from the bank. I wish it wasn't that way because I truly don't like have to us a credit card. But with needing to do on line purchase I don't have much choice
I forgot to give kudos yesterday to Mr. Ken, Coleman, and George kamel. Those two together are hilarious, they are the best. And their chemistry together. I swear I find myself laughing so hard. Next I like Jade Warshaw and George Camel together, and then I like when Dave Ramsey is with Jade… What great combinations. Dave Ramsey’s info has given me life:) Thank you sir.
Way to go, Terrell!! Keep it up! Stay focused, stay prayed up, and keep making smart decisions. Wisdom is better than credit & you’re walking wisely Brother! 🎉👏🏽💪🏽
Taylor from DC just kept talking when Jade was asking her important questions
Wow the pipes on Jade!!!
That's what she used to do for a living - she's an excellent musician/singer! (Also where she got her stage presence.)
@@Trustbutverify2651 Very cool I didn't know that!
Just listening to these shows you know God is telling all the listeners don't be dumb I gave u a beautiful mind use it!!! God is telling be smarter!!!
Jade is right about marriage. Living with someone for 12 years and two kids together and not quite sure if marriage is for you, especially since you can't afford the big wedding (otherwise known as the party)? I guess some folks just can't make up their minds. Many women are unaware of all the financial benefits of being married. For one thing, if a husband is a higher earner, a wife can qualify for his social security benefit when he dies if she is still alive if they have been married at least 10 years and a day. (Wives usually outlive their husbands.) In the meantime, she can qualify for half his social security while holding off on claiming her own at a later age which means more monthly income. Doesn't matter how many times the husband has been married - EACH of his wives who has been married to him for 10 years and a day can claim off his social security (if he is the higher earner.)
This couple does not want to "be married." They just want a big wedding someday.
@@myoldvhstapes Actually, they're living like they are married, so what would be different? You're right, though - but my point is that women who make these kinds of choices often realize later in life that they have lost out financially (unless they're the higher earners.) Some choices look very different in retirement years.
Your are right but men who aren't high earners living with women who are high earners usually end up with nothing too especially if he lives in her house. If she passes the family kicks himo ut and he is too old or sick to get with another woman. He ends up in a destitute situation.
Also, when she decides to go be with Chad she can take half of his stuff and his kids and make him pay for everything.
@@adobedobedo409the statistics show that MEN are the cheaters in the divorce.
I don't think they really understood what Molly was saying about being abroad with her credit card. They're saying you're protected. Molly was saying, "Being stuck with without the funds to continue or get back. Of course the bank is going to give you your money back... but are they going to put back before we hangup the phone with them? You need your money right now....not in 20 business days!!!
I was thinking the same thing. I understood what she was saying too.
She means if a debit card isn't accepted she can't use it to continue vacation or get home
@Mskyraelise no. If the debit card wasn't accepted she couldn't charge hotels or food while on vacation.
My debit card was compromised and as soon as I contacted the fraud dept my money was put back.. took about 30mins on the phone.
The rental car thing puzzles me. I can rent a car at a local agency with my debt card, I can rent a car at the airport with a return flight. Fine. I had an issue on a motorcycle trip where I was going to have to leave my bike for some repairs but needed to be back home for work. I could not rent a car out of town with a debt card or no flight out of that airport.
Because of that one issue, I got a credit card for traveling emergencies. Hadn’t had one in 6 years but didn’t want to be stranded without options again.
Hmm I booked a flight and car off a debit card
I used to manage a rental car agency. You're correct. A work around is to have the shop confirm your vehicle is there and rent from the branch closest to the shop. It sucks to be caught by the rules. The easiest thing to do is keep a credit card for these things.
Just not going to buy the Ramsey line of no CCs and have all this hassle. I pay mine off as soon as a charge posts and I'm certainly not giving them up. It's not my problem if other people can't be responsible with theirs.
So you got a credit card foe something that may happen once ecmvery 6 to 10 years? That's not really the best idea especially since credit card companies will close credit cards for not being used. I have a feeling you are going to start using that card for daily expenses.
@@dreams2383 It doesn't matter WHAT I use them for. My point is that I treat a CC like a 2-3 day debit card b/c as soon as a charge posts, I pay it. I do not wait until the end of the month. I don't pay any interest - never have - and I use the points for part of my "generosity." For example, from my Sam's CC I had $25 in "Sam's cash" this past weekend. Used that $25 to buy food for the church pantry without it costing me any money from the budget. Had over 20,000 points on one of my CCs - used that to purchase four $50s gift cards for birthdays for relatives - again, didn't cost me any extra. So, no, I'm not giving up my CCs. Contrary to what folks on here say, the benefits ARE worth it to me. They cost me nothing and it's not my problem if other people cannot be financially responsible. Each person has to know his or her own limits and temptations.
Any amount of money I get back in my federal tax return is paid directly to the state of Maryland in taxes owed… so annoying. Thank you for busting myth #3.
Don’t tell the dealership you have cash put half of the down payment and then pay it off in three months
This has always interested me. I was told by an ex car dealership owner that when you have cash, they will not haggle. They make more with financing
100%. If you pay all cash they will fleece you with pricing
@@OopThereItIs77777 those are the old days because now they don’t want to sell them for cash because they mark up the APR 2% to make money, I walked into Carmax with 80k .. plus u have 7 days to take it back if u have issues .. I promise it’ll take you 5-7 days to get your cash back
@@OopThereItIs77777 they rather sell it to the guy who is financing… trust me it’s not like the old days. You will have to prove income.
@@Brucefulness yeah and what if the car messes up.. it’s better to pay half and drive it around for seven days to see if it fits your lifestyle instead of putting all cash you won’t get your money back for 5 to 7 business days. I walked into Carmax with 80k
I’m getting $8000 back from federal and $500 from the state. I suppose it’s time to talk with HR 😅
Nice! I’ll probably owe federal around $12,000 because I didn’t put money back for taxes (1099) because I was using the money to pay off other debts😢
That's $700 extra a month to pay off Debt. Good Luck!
Tax withholding has been tricky for us the past couple years because my husband gets bonuses a couple times a year that are variable but are always taxed at a higher rate than the paychecks.
For 2022 we apparently had underpaid to the point where we were worried about a fine or audit. Thankfully had cash to pay it.
But we recalculated and changed our withholding several times last year and now are estimated to get over $6000 as a refund this year.😳🤷♀️🤪
Paychecks are in the 22% tax bracket, 3 kids, and standard deduction... I think it's the big lump sum bonuses that make it weird.
I've always signed documents eith a new job to take more withholding tax so I never had to worry. I get that it's my money and they're making interest on it, but the security is worth it.
Employers usually remove more on lump sums if the income is close to the max in the bracket. Glad you did that as its so so helpful❤
❤❤Very, very good!!!! Great job man!!!
Pay cash and enjoy it, keep working hard, you're still young,.....key is DEBT FREE ❤❤❤
Crazy how people call in what should I do with the money I am getting and they have a mortgage.. dude they are going to say pay the mortgage
🤣You're just smarter than some!
@39:07 Caller has never known what $240K in DC is with no payments feels like every month, their income is just out the door every month to someone else. Be Debt Free! Crush it!
Jade says "listen" @ least 100 times every episode 😂
Cause we need to listen 🤣😂
And it always gets my attention 😂
@@heatherdoeur114😂😂
People need to listen 👂 😂
Yes, you can reimburse yourself from the 529 in the same calendar year that you spent it. It also has to be a qualified expense (tuition, room & board, books, etc). You can also transfer it to another relative (like one of your kids in the future). Definitely read up on all the ways you can use it and how to reimburse yourself. If you use it for non-qualified expenses, then you have to pay taxes on the earnings AND a 10% penalty. So definitely use it for education needs
Go Terrell!
I wouldn’t even attend a wedding when idiots have been ‘together’ for that long. Seriously what’s the point?
This is the Jade Show.
Periodt
12 years and not married....no excuses! Getting married doesn't cost 100k dude just go to the court house!
So I was laid off in August, and finally God blessed me with a job this week.
Have -$21,257 ($500 min. payment monthly) in debt on one credit card, -$1,961 ($180 min. payment monthly) in debt from a personal loan. Around -$700 in medical debt. Then I owe -$200 to the IRS from 2022, but they also owe me $500 from 2021. There is also some other medical debt, but it’s because the provider did not bill the correct insurance so this will be straightened out.
I froze my credit card last month, and am gonna cut it up. I will be saving up for a $1000 emergency fund, what do I need to do after this in my situation?
And also when I am eligible for a 401K, what percentage of my paycheck should I start with? (Pay is $20/hr, full time in CA, rent is $1000 until I can afford to contribute more)
No retirement until all your debts are paid. Then 15% for retirement.
@@thedude5040 ah okay, that makes a lot more sense, thanks!
Withholdings nowadays is one of two choices. Max or min withholdings. It makes it really difficult. I chose min and get $3700 refund yearly. 😢
1:08:24 no the extension is to file ur taxes not pay ur taxes
I need peace ☮️
Know Jesus, Know Peace.
@@Nigriff indeed
We just used our tax return to pay off our truck. No more auto loan🙌. We owe our 3 vehicles outright, we’ll drive those vehicles until the wheels fall off.
I just watched the taxes portion and we would love to be able to change my husband's withholding but the IRS has locked down our withholding numbers because of us having had to pay back taxes. We have been trying for the last 2 years to get them to send us the letter stating that the taxes are paid so that HR can remove the lockdown. Our refund is between 10 and 12 thousand.
Wow. I’m worried about having the same problem. We will probably owe the irs about $12,000 for 2023 due to me being a 1099 contractor for my side hustle. I’m afraid if we do the withholding we will have the same issue. I hope your problem gets solved soon
Walk into a local branch of the IRS. They will help you.
Buy a good used car with cash and keep it for 7 to 10 years. Then buy another used car with cash.
That's what we did. After a texting driver ran a stop sign and totaled our car 5 years ago, we decided to try going car free as we have good public transit. We're still car free and that saves us a lot of money! It's great to be free of the road and parking ragers. It's good for our health because we walk more and good for our relationship because we talk more.
Terrell. Go buy one that the depreciation is all gone. You could spend 10-15k and you're good.
Last year we got about $10K in federal tax return, but since we have 4 children and only made $48K, we didn't pay much during the year. We could pay $0 in taxes and still get a huge return at this stage. This year the return will be much lower ($7K) because we have one child aging up to the lower amount and the tax credit for children was somewhat silently lowered (I think to pre-pandemic amounts). We are excited for the refund because we will be able to put 90% of it towards our mortgage (10% to giving). It'll get us closer to debt freedom, not a vacation or silly spending.
I don't know why but I love Jade
Because she's tollay awesome 😂
Love Jade and George ❤
❄️❄️❄️❄️❄️
Why would they not already be using the 529 to pay for college?
No one will ever be able to drive the point home like Dave. Rachel is close but can be biased and John as well when the caller is emotionally charged. Everyone else relies too heavily on regurgitating the baby steps despite all being charismatic and likeable
I think Dave has that older person who says whatever they want thing going on 😂 and some people really need to hear that.
@@Camilethesag he serve it straight with no wet back...
Debit cards are so much harder to get your money back
With debit, it really is "your money" that's already been spent.
Not so with a credit card dispute.
EXACTLY!!!!!!!!!!!!!!!!!!... I mean the devil you know says to use credit or travel cards when you travel. ijs. right
as long as you pay the money you spent back .. like right after you put any charge on the card with in an hour, I'm paying it off.
They live in a different world. They don’t customize their advice and suggestions to each caller but a blanket one to all.
Not really. Took 3 clicks and Chase had money back in the account in a day
When it became apparent that I had to retire, we paid off the second home, and are debt free. 5 years now.
My first car I paid 2,500 and it lasted me 5 years.
Good afternoon I started listen to your station on WWL New Orleans in December 2023 I have a situation that I have to make a decision on selling one of my properties verses renting. I have three properties ( CA Bay Area, Alabama, and Louisiana) free and clear just properties taxes. My two daughters have their own homes and NOT interested in inheriting any properties. I am retired I am a saver my net worth is approximately 3.5 M ". I can’t believe it myself". I receive approximately $7,000.00 monthly from SS, Pension, 401, and rental after working 52 yrs. I budget all my life and still budget. Should I sell the house in the Bay Area or rent?
Nothing like being on vacation and having $4k pulled from your checking account as fraud. Now ur debit card is locked out and your SOL. Ask me how I know.
My fiancé got a $9,750 refund. Mine was $400. I’m still getting mine down with having a new farm business. So it’s been interesting…
Love the show. Can you please turn down the intro volume?
In the UK if we overpay tax we are paid interest on the overpayment.
Yea but you also get taxed at insane amounts anyways lol. At least the middle class does.
@@Davefitz04Most people pay 20% tax, not so bad, plus no need for medical insurance.
@@Davefitz04 21% isn't that high for all the benefits we get
your total tax rate is only 21% including everything?
@@sXePunkV2
The Clash... 🎉
I agree about getting married, but Jade, please don’t minimize marriage. Marriage is MUCH MORE than just a “piece of paper.”
She is not minimizing marriage. She is pointing out that they have been acting like a married couple for TWELVE years, so why not make it official? There are many benefits to being married besides just true love - and they have two kids together.
I gave way too much to the government around 10k. I changed my allowance to reduce this amount and keep what is originally mine 🙂
Why is insurance denying the claim. I would be appealing that decision if I had to go to State
People who get $8000 tax refunds don't pay taxes in the first place.Its earned income credits for kids
We have to have additional withholding taken out of our paychecks so we don't OWE money at tax time...and we still owe a little bit. It's been like that for over 20 years. Ugh
i know the feeling. i claim single and zero dependents for my work to take out the max for taxes in addition to additional withholding and I still owe taxes.
The protections are not the same and it is safer to use a credit card. Having a credit card is fine as long as you can manage it which it sounds like she does just fine
Jade and George should do a rap album 😂
We pay just under 1,000 each year in taxes. I put $100 a month in savings to cover it. We keep it there, because if you owe more than $1,000 there's a penalty.
When it became apparent that I had to retire, we paid off the second home, and are debt free.
How do I contact the show live on air if I live in the UK........
George!
How about CD accounts for children? I mean if they are young and for sure its not gonna be used, is that not a good way to see some growth?
We got a $6300 refund this year. Meh. :\ However, 10% went to tithe, and the other 90% went ALL back to Uncle Sam in Federal Student Loans. Not saying this as a brag, but man it was good to see that balance drop $5k+ all at once! This is NOT praise to the IRS or DOE or the Government though... just understand that you all!
0:00 Totally on-topic question -- how did the Ramsey show score "Baker Street by Gerry Rafferty? My nostalgic heart hurts - anyone else think that song is a masterpiece?
been together 12 yrs, 2 kids and want to combined debt...yet not good enough to marry??? make it make sense
Every time they tell people about the safety and protection of marriage I cringe. I think of my friend sleeping on someone's couch for a year now because his wife took his vehicle and his house...
I have rented many cars over the years with my debit card.
Nahh my grandma loves debt
Terrell is playing games. Why have you been buying cars for years? Why is your entire networth the $80k you have saved? Retirement investments…. Get another hooptie and move on
That's why I choose bankruptcy. 😑 inflation, illegal migrants, tech layoffs.
Tax refund last year family of 4. 7,300
Why won’t insurance cover Mollys dishwasher situation?
Likely because there may have been a problem that was ignored in which case it is not up to the insurance company to pay. Water damage can be extremely expensive to repair or replace. Very slow leaks often happen under the house and the homeowner is not aware until the floor starts buckling, etc. That's one reason it's so important to not only have the underside of the house checked regularly, but also to scrutinize your water bill to see if it seems higher than usual. There is often a problem, too, with toilets because the water in the toilet can go up and down almost silently when the toilet is not being used and can result in huge water bills.
So i really don't understand the tax thing. I have 4 kids and get a tax credit, what does that mean and HOW do you change that?🤣😂
Anybody else just fast forward on the multi-millionaire’s conundrum on whether he should use a coupla hundred thou on his debt??? Was he serious with that call? That was a joke, right? 🙄
I just saw that part... like you have the money... you dont NEED a mortgage to have a chance at owning a home lol
This stuff about vehicles just gets on my nerves. You need to get from a to b safely that’s it.
I'm going to keep using my credit cards to rent cars.
Actually, not to give money to the government every month, you have to lie on your W-4 form, count the neighbor's kids, the cats and the dogs in the neighborhood to come up with a high number of dependents
Only if you’re an illegal.
how is a car company taking a bigger hold on my checking account give u more peace? I'd be worried they steal my money
I bought a $65k car for $30k (after govt and Black Friday discounts) brand shiny new off the lot.
Shop your deals.
& by the time as done, Chevrolet paid me $50k cuz they couldn’t keep up with the recalls and the electrical failures their servicemen weren’t trained to fix.
U never know…
Listen to God about YOUR finances and YOUR debt free life
Once I am on BBstep 6(paying off your home) what step is hiking up BBstep 1(because home repairs are high more like 10k for a roof)???anyone know????
That would be BB3. A fully funded emergency fund.
They said in todays show to use your emergency fund for what it’s intended for and I was under the belief that baby step three was for a job loss. Guess I miss understood?Thank you for your response!
So set 3 is the 6 montj emergency fund so I would say just keep it at that but where possible save for other things so they dont become an emergency fund. I have an emergency fund but Im having a little sinking fund for my dog incase she gets sick even though if it would happen right now it would be an emergency fund expense.
You should have a separate housing maintenance fund of 1-3% of the insured value of the house. If the house is new, the find should hold 1%, if the house is old, save up 3%.
Anyone wonder how Dave did it? He went bankrupt and started at zero. We have to start by paying off debt
48 YRS OLD NEVER HAD A CREDIT CARD IN MY LIFE AND NEVER WILL...THE THOUGHT OF BUYING SOMETHING WITH OUT TOTALLY PAYING FOR IT...WOULD DRIVE ME CRAZY...I LIKE BEING ABLE TO PAY CASH AND NEVER HAVE TO WORRY ABOUT IT..ONCE I LEAVE THE STORE...
I use a credit card, which is paid in full every month. I use it for online purchases, which are often cheaper than physical stores. I earn reward points with it that I'm saving up to use toward a flight I'll be taking later this year.
I was terrified of credit cards and only got one - with a very low secured balance - because there are times when a good credit score really does make a positive difference. I still keep my upper limit capped, and have alerts on my
phone. Every time there's a charge to my card or my checking account, there's a beep and a message.
I never use my card for anything I couldn't pay in full with cash.
India need US like system to be fresh start of default personnels
Is there a speed limit on how fast they talk?
Talking too fast, laughing while talking and constant change of program volume are terrible issues with the Ramsey Show.
These people could use some professional speakers training/ counseling.
Traveller's checks are great for traveling if you're worried about safety
I’ve rarely found places that accept travelers checks these days.
What’s driving you to upgrade a car… 😂
I’m sorry I love the new Ramsey cast but no one can do the intros / outros like him 🥹
Toyota, honda
8 to 10k back
Guilty of the high refund.. typically close to $7k each year.
Whats the diff between used and previously owned?
Ha, ha, I thought the same thing. Maybe previously owned had a gentler owner?
Pre-owned is usually only a year or two old and has very low miles. So basically new
@@Emily-ij1hf certified preowned maybe. But just pre owned???
None😅!
Marketing!
$6400.00
New cars do not lose 60% of value/depreciation in 4 years, that is old data. Buying a new car isn't a bad option if you can afford it and don't have other expensive hobbies
Wrong again.
Depends on the vehicles
They lose a LOT more now. New cars are specifically designed to have a lifespan of 7-10 years now. They're intentionally making cars that will not last a decade because they have realised if you make people buy cars more frequently, that will increase sales and therefore their profits.
Jade's mother in law is her accountant? That seems to conflict with advice given on this show.