Don't Let Lifestyle Creep Derail Your Financial Goals | October 11, 2024

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  • Опубліковано 13 жов 2024
  • The Ramsey Show | October 11, 2024
    Early Access, 10/15: Watch Dave Interview Shapiro in the Ramsey Network app. ⮕ ter.li/80hcel
    George Kamel & Jade Warshaw answer your questions and discuss:
    "Should we offer seller financing for our home?"
    Re-organizing our debt snowball now that we're married,
    "Should we sell our cars to pay off debt?"
    "My tenant is falling behind on their rent,"
    "Do I need to buy a minivan for my first child?"
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КОМЕНТАРІ • 141

  • @mariadrukker2557
    @mariadrukker2557 День тому +79

    I moved into a bigger place last year, and between furniture, decor, and just day-to-day expenses, my savings goals have taken a serious hit.

    • @Robby767
      @Robby767 День тому +3

      That lifestyle creep is no joke. I got a raise last year too, and I promised myself I’d save more, but it’s so easy to justify small splurges here and there. Before you know it, your savings plan is out the window

    • @V.stones
      @V.stones День тому +1

      Absolutely. I started tracking my expenses more closely, and it’s shocking to see how much those little things add up. The other day, I read about how easy it is to derail your financial goals with lifestyle creep-especially if you’re not actively managing your portfolio to grow with your expenses

    • @WillParffit34
      @WillParffit34 День тому

      I’ve actually been thinking about consulting someone myself. With all these expenses adding up, I’m not even sure what’s reasonable to spend and what should go towards my investment accounts

    • @louisahernandez
      @louisahernandez День тому

      Smart,. I worked with Nora Jean Erickson, a CFP, and she really helped me put together a strategy that balances my lifestyle and my financial goals. What’s nice is that she offers free consultations, so you can see if her approach works for you before committing

    • @Bigwilli123
      @Bigwilli123 День тому

      That sounds like a solid idea. I always thought advisors were out of reach for someone like me who’s just trying to manage day-to-day spending and save for the future. A free consultation would be a good way to get an idea of where I stand

  • @prudencek7087
    @prudencek7087 2 дні тому +36

    That first caller needs to fire his real estate agent, cause why would they even suggest he do the owner lending. Clearly the buyer didn't qualify for a regular mortgage. From the moment he mentioned that scenario, I was like, absolutely not!

    • @pandafox12
      @pandafox12 2 дні тому

      @@prudencek7087 nobody in that conversation knew what they were talking about. I'm sure no is the right answer in this case, but there are many ways to make such transactions win-win if you know what you're doing.

    • @gardenandcalico
      @gardenandcalico 2 дні тому

      lots of bad real estate agents this episode tbh

    • @Marilyn236
      @Marilyn236 2 дні тому +9

      Because only thing the real estate agent cares about is his commission and there were no other offers. Agents work for themselves, not for you.

    • @beckyg361
      @beckyg361 2 дні тому +2

      Agree. Hard no on seller financing. Just wait. Follow your gut. I feel like your real estate agent is pressuring you to get the sale and clearly doesn’t care or know how to handle money. Not sure what the market is like there, but this would cause me to question the ability of the agent. Hope you were given solid comparable reports to determine the listing price.

    • @bryangarner3648
      @bryangarner3648 День тому +2

      ​@@gardenandcalicoprobably lots of new real estate agents desperate to make a sale

  • @barbarawest4570
    @barbarawest4570 2 дні тому +5

    Keep the Honda. I gave my first 20 year Honda to my son after he graduated college and purchased my second Honda at that time. It's now over 20 years old, looks similarly to the new ones and drives great.

  • @beckyg361
    @beckyg361 2 дні тому +5

    Can’t beat the reliability of a Honda or Toyota sedan. Do your own research and stash some cash for bigger unexpected expenses.

  • @YouMissedBro
    @YouMissedBro 2 дні тому +10

    If youre too scared to evict someone then you have no business being a landlord. These causals that just "rent out" their previous home because tiktok told them to need to gtfo.

    • @mike112079
      @mike112079 13 годин тому

      😂 I wish Dave was there for that call man!!

  • @kw3113
    @kw3113 День тому +3

    Husband wants to save for daycare but wife isn’t even pregnant? Also didn’t wife say they were a single income family and she is the income. Why would they need daycare then if husband isn’t working? What don’t we know here.

  • @ellea2541
    @ellea2541 23 години тому +5

    First caller - NO WAY, don't do it.

  • @Jayraymond897
    @Jayraymond897 2 дні тому +35

    Its worse here, our economy is like a flailing fish, fighting for its life. The normal state of the U.S. economy is actually very bad. Because of this it goes into convulsive spasms fighting to grow any way it can out of desperation. Tricks, gimmicks, rule changes try to stimulate the economy and prevent it from falling but they only bring temporary relief to people since, when you factor in inflation we are declining.

    • @paulheny
      @paulheny 2 дні тому +2

      People believe their currency has the worth it does because they have no other option. Even in a hyperinflationary environment, individuals must continue to use their hyperinflationary currency since they likely have minimal access to other currencies or gold/silver coins.

    • @albertbush9361
      @albertbush9361 2 дні тому +5

      Inflation is gradually going to become part of us and due to that fact any money you keep in cash or in a low-interest account declines in value each year. Investing is the only way to make your money grow and unless you have an exceptionally high income, investing is the only way most people will ever have enough money to retire.

    • @paulheny
      @paulheny 2 дні тому +1

      I do not disagree, there are strategies that could be put in place for solid gains regardless of economy or market condition, but such execution are usually carried out by investment experts or advisors with experience since the 08' crash

    • @eliantomasup8286
      @eliantomasup8286 2 дні тому

      I've tried investing in the stock market several times but always got discouraged by fluctuations of stock value. I would be happy if you could advise me based on how you went about yours, as I am ready to go the passive income path.!!

    • @albertbush9361
      @albertbush9361 2 дні тому

      If you don't want to crash and burn, you should seek the advice of a fiduciary counselor when you first start out. Fiduciary-counselors have exclusive information and data paths that are not available to the general public. Understanding the direction of my Fiduciary-counselor Tracy Britt Cool Consulting.

  • @MisuZama
    @MisuZama 2 дні тому +2

    Hi Ramseys Team - I hope someone can answer my question. In South Africa, life insurance usually comes split 3ways to include, Life, Dread Disease & Disability. D& D premiums are usually quite high & if you have an emergency fund, savings & medical insurance, seems like money down the drain. What are your thoughts on Disability & and dread disease insurance for persons who aren't really high risk.

    • @MONI-bj1ms
      @MONI-bj1ms 2 дні тому +1

      Coach Steve Money answers questions on the live chat. Or email or call the show.

  • @Joce123
    @Joce123 2 дні тому +1

    I just read that at companies like State Farm for instance if you call them and tell them that you have health insurance., you can lower your monthly premium by as much as $100.

  • @RaynArthur
    @RaynArthur 2 дні тому +14

    I came across your channel through this video-
    case studies are incredibly valuable, and I'm eager
    to see more in the future! Building wealth involves
    establishing routines, like consistently setting aside
    funds at regular intervals for smart investments.

    • @TinaBoyle75
      @TinaBoyle75 2 дні тому

      You're correct. I think the smartest way to go is
      to spread out your investments. By putting
      your money into different asset classes like
      bonds, real estate, and stocks from other
      countries, you can lower the risk if one part of
      the market goes bad.

    • @CamilaCardone66
      @CamilaCardone66 2 дні тому

      That sounds like a good plan. In the past two
      years, working closely with a financial market
      specialist, I've built a six-figure diversified
      stock portfolio. Now, I aim to diversify even
      more this year.

    • @FabioBortone6
      @FabioBortone6 2 дні тому

      I'm a newbie how can someone know a professional broker when legit once are hard to find this days.

    • @don.boelter
      @don.boelter 2 дні тому

      Ms Martha Ann Hammerton was my hope during the
      'bear summer lost year . I did so many
      mistakes but also learned so much from it

    • @don.boelter
      @don.boelter 2 дні тому

      I was skeptical at first till I decided to try. Its huge returns is awesome.

  • @brooklinkilgannon6757
    @brooklinkilgannon6757 День тому +1

    My fav duo!

  • @allthingsjonda5760
    @allthingsjonda5760 2 дні тому +4

    Love these two! Super fun❤❤

  • @ljb3135
    @ljb3135 2 дні тому +1

    Great show, when will Every Dollar be available worldwide 😊

  • @candecarro
    @candecarro 20 годин тому

    Only do “owner financing” if both parties have their own attorneys. Sure, get a large downpayment, and risk is low (make sure YOU are the first and only lienholder, get guarantees on Insurance, and that taxes are pre-paid. You can do a 5-yr with a balloon payment at the end; and I would add 1.5-2% additional interest rate. That can work.

  • @darcybuchanan7157
    @darcybuchanan7157 2 дні тому +5

    I want to call in hoping you will give me EveryDollar! Lol

    • @MaInfamous
      @MaInfamous 2 дні тому +2

      Go for it! I hope you get it!

  • @Joce123
    @Joce123 2 дні тому

    Refinancing is absolutely crazy compared to recasting which can be very advantageous.. I would definitely buy down the rate and wonderful if you could have a loan that is assumable.

  • @Rashaadthegr8
    @Rashaadthegr8 2 дні тому +7

    When you get to baby step 7 you will go from dirt to solid gold.

    • @bettedavis9261
      @bettedavis9261 День тому

      How so? I'm in BS7, and haven't found any gold. But, then again, I wasn't "in dirt" prior to paying off the mortgage.

  • @neliai.7914
    @neliai.7914 День тому +2

    😂 i do that pay things wayyyy in advance when possible lol

    • @alleykeosheyan4779
      @alleykeosheyan4779 18 годин тому +1

      Me too, I work in the tourism industry, so income gets reduced in the winter months. My gas bill is the biggest expenditure since I live in Wyoming and winters are cold AF so I pay that bill way ahead. That way if work dwindles down to nothing, I have a credit balance on my gas account at least through early spring.

  • @marcyb805
    @marcyb805 5 годин тому

    Ok Jade if you wear a size 9 you can donate your old sneakers to me! Lol

  • @c.parker8439
    @c.parker8439 2 дні тому +2

    Eric from Boise seems messy. If you can't explain what the process will be, then you shouldn't be doing a deal that banks have not offered to the buyers.
    Red flags... NO DEAL. Good luck

  • @Trustbutverify2651
    @Trustbutverify2651 2 дні тому +7

    Do NOT do owner financing!

  • @WendyW7508
    @WendyW7508 2 дні тому +1

    I love the viva! The signature cloth, thumbs down on the multi whatever. Nothing else is ok.
    The first caller. I hope he now understands that is ridiculous on all levels. No! He needs to pay off his mortgage on the home he just bought, and why would he be even open to pondering this level of risk. If they default, he will have to go to court and get them out. Deal with waiting months, deal with any damage or mess they leave, and potentially not be made whole financially at all. Even if a court says he wons, cant squeeze blood from a stone ya know. just all of it is a huge headache. No way.
    He said it was a competitive market. Which means another buyer will come along anytime.

  • @Joce123
    @Joce123 2 дні тому +2

    Maybe they don't qualify because they haven't been at their job 2 years..like fresh out of law school

  • @mattlaeff724
    @mattlaeff724 День тому +2

    I've tried -- I promise you all. I find it nearly impossible to listen, however, without Dave.

  • @veyveye.2985
    @veyveye.2985 2 дні тому +5

    😂😂 that dad joke 🤦☺️

  • @Joce123
    @Joce123 2 дні тому

    It depends on how much equity they have You do not have enough information.

  • @Trustbutverify2651
    @Trustbutverify2651 2 дні тому +6

    $800 is a lot for groceries for just 2 people.

    • @seauxpred1ctive182
      @seauxpred1ctive182 2 дні тому +4

      I agree. I can feed my family of 5 for $400-500 a month. Thats cooking 3-4 times a week (leftovers) and packing school lunch for 2 of the kids most days.

  • @alfveba1
    @alfveba1 День тому +4

    Didn't better help get busted for being fraudulent?

  • @gardenandcalico
    @gardenandcalico 2 дні тому +2

    Jade you're so wrong about bread! The best method is to have a sourdough starter, spend an hour a week on making it yourself and have the highest quality at the lowest price.

  • @Sj-_3
    @Sj-_3 2 дні тому +4

    I would love to hear a caller ask the hosts what their annual income is

    • @MONI-bj1ms
      @MONI-bj1ms 2 дні тому +1

      All but Dave would say is I'm a debt free millionaire

  • @ThePolypam
    @ThePolypam 2 дні тому +7

    Why is Juliette's husband not bringing in any income? No question about that...

    • @karenkniffin2915
      @karenkniffin2915 2 дні тому +8

      Agree. Dave's spidey sense would have gone up on that one. ("Why's Bubba not working??) If they don't have a kid and he's not a stay at home dad, why isn't he working? That was a big miss by Jade and George...

    • @gardenandcalico
      @gardenandcalico 2 дні тому +6

      Fr and if hes not working, why does he want daycare money?? 😅 Ridiculous

    • @ThePolypam
      @ThePolypam 2 дні тому +5

      @@gardenandcalico Sounds to me like he wants a big enough cushion to float them until SHE goes back to work.

    • @buckibanker
      @buckibanker День тому +3

      This is what I came looking for in the comments. Like how did they both miss that, blew right by it. If he’s so worried get a job

  • @akuawiafe9412
    @akuawiafe9412 2 дні тому +3

    Stop carrying what other people think. That's it

  • @candecarro
    @candecarro 20 годин тому +2

    Jade asks: “Are you getting a tax return every year?” Such an odd, odd question. Did you mean, “Are you getting a tax REFUND…”

    • @DoctorSmartyPants
      @DoctorSmartyPants 14 годин тому +1

      And it's not that it's odd. It's an incorrect use of terminology. But hey, that is Jade for ya.

  • @4macsproductions171
    @4macsproductions171 2 дні тому +4

    Jade, Jade, Jade!!!

  • @DoctorSmartyPants
    @DoctorSmartyPants 14 годин тому +1

    On first call, and for everyone else out there, it is Real-tor, not Re-lator. They are "tors" of real property.

  • @pandafox12
    @pandafox12 2 дні тому +9

    I understand the psychology vs math argument, but I'm taking the 100% match

    • @gardenandcalico
      @gardenandcalico 2 дні тому +4

      Me too. But I think the advice applies to more people than not so I get why theyre hardline about it. If you literally cannot create that 1k margin monthly, then stopping the match to get there is the right call.

    • @pandafox12
      @pandafox12 2 дні тому +1

      @@gardenandcalico 100% growth beats 30% CC interest. It does boggle the mind to see people in CC debt with rentals/ordinary stocks. Zero chance your risk adjusted returns even come close to paying off 20% debt.

    • @DericAnslum
      @DericAnslum 2 дні тому +2

      ...correct...Ramsey is for broken broke people...
      ...The Money Guy is more for mature nuanced individuals...

    • @YouMissedBro
      @YouMissedBro 2 дні тому +1

      ​@@DericAnslum yet here you are crying in the comments

    • @brenanator6054
      @brenanator6054 День тому

      @@DericAnslumtrue

  • @lauralong111
    @lauralong111 2 дні тому +1

    If you're about to buy another house, you need that full and best sale amount going forward.

  • @SD-rs5gi
    @SD-rs5gi 2 дні тому +1

    Viva is good stuff!

  • @RCGuitar982
    @RCGuitar982 День тому +1

    Todd isn't gonna change...

  • @Hossafy
    @Hossafy 3 години тому

    Ramsey says he’s not political and then platforms Ben Shapiro? Thus may be where I jump off the bus.

  • @DreMay-o7t
    @DreMay-o7t 2 дні тому +1

    Jade is so beautiful.

  • @LordBass
    @LordBass День тому +2

    The pace of this episode is glacial. Twenty minutes for two calls. Ugh.

    • @lawandahilaire5057
      @lawandahilaire5057 День тому +1

      I agree they need to train them to be like Dave and get to the next caller….ask the right questions early on!

  • @okiebear
    @okiebear 2 дні тому

    What is she known for?

  • @meganw7261
    @meganw7261 2 дні тому +2

    Ben Shapiro wtf? Why have on such a devicive character?

  • @Joce123
    @Joce123 2 дні тому

    ..

  • @zenzei_305
    @zenzei_305 День тому +1

    He is still gonna sell the house to those ppl. Waste of a call.

  • @DoctorSmartyPants
    @DoctorSmartyPants 14 годин тому

    First call went on way too long

  • @DoctorSmartyPants
    @DoctorSmartyPants 13 годин тому

    Why cant Juliette's husband work?

  • @DoctorSmartyPants
    @DoctorSmartyPants 14 годин тому

    Boneless anything meat has no flavor

  • @Hankjones1
    @Hankjones1 2 дні тому +4

    Vote Harris 2024..fdjt

    • @martinwegner9802
      @martinwegner9802 2 дні тому

      You mean vote being broke

    • @TheBellroc
      @TheBellroc 2 дні тому

      No thanks I don’t like open borders and migrants getting more benefits then 🇺🇸 citizens

    • @amireallythatgrumpy6508
      @amireallythatgrumpy6508 2 дні тому +2

      Voting is asinine.

    • @DericAnslum
      @DericAnslum 2 дні тому

      ...good one...happy trolling...idiot...

    • @YouMissedBro
      @YouMissedBro 2 дні тому

      Of course a Mexican would be in favor of free handouts!

  • @candecarro
    @candecarro 20 годин тому

    Only do “owner financing” if both parties have their own attorneys. Sure, get a large downpayment, and risk is low (make sure YOU are the first and only lienholder, get guarantees on Insurance, and that taxes are pre-paid. You can do a 5-yr with a balloon payment at the end; and I would add 1.5-2% additional interest rate. That can work.