What Do We Do With Extra Money Every Month?

What Do We Do With Extra Money Every Month?
Listen to how ordinary people built extraordinary wealth—and how you can too. You’ll learn how millionaires live on less than they make, avoid debt, invest, are disciplined and responsible! Featuring hosts from the Ramsey Network: Dave Ramsey, Ken Coleman, Christy Wright, Rachel Cruze, Anthony ONeal and John Delony.

[Rashaadthegr]

I can't wait to be able to have this problem.

[Holdeenio]

People have different priorities in life, as demonstrated here. Once you get this far along the baby steps, you really should start to enjoy your efforts so far. There’s no reason why you shouldn’t work on your home with cash while overpaying your mortgage - both are wise. Paying off your mortgage increases your equity position, but sensible renovations can ADD equity by increasing the asset value.

[cathyosullivan]

I think it’s good to have balance in life. I know people who travel a lot after retirement; but isn’t it nice to do a bit of traveling each year?

[henrymitchell]

No Mortgage, No Debt, Pay My Bills, Have A Few Treat Nights In And Out, One Emergency Fund and I’m Diversified Into Various Investments i.e. ETFs, Index Trackers, Investment Trust, and a Balance of High, Medium and Low Risk Stocks spread across various sectors with help from my advisor like, Consumables, Consumer Health, Disruptive, Energy, Finance, Healthcare, REITs, Tech and Travel…

[maxrice]

I almost think she doesn't understand that when you have equity in the house, you get that money back when you sell it. It's like she thinks once they sell the house, all extra money they put on the mortgage disappears.

[Teamshmo]

The second she said she wants to spend the money on trips I could see why the guy snapped lol

[andygarcia]

I have a feeling she is not going to talk to her husband.

[chelseajones]

This was a really encouraging episode for me. I’ve struggled with the intensity part of wanting to pay the mortgage off with that intensity but also seeing the wisdom of enjoying your family and taking opportunities or improving your home.

[Jelly._.cat._.]

I’m doing the same. I started to lose sleep on what to do with how much. Then I was walking and said “I should just be happy that I have any money to do both”

[JesusHernandez-pwxu]

I'm with the husband. The more they put down, the more they'll make when they sell the house. Any repairs can be done just before selling the house as long as they're not something urgent

[stephaniecorpus]

This helped me so much! I’m the nerd 🤓 we have over 3, 000 left over each month are expenses super low.

[sandyseibelhager]

I'm a nerd too. I decided on an amount that I want the principal on the mortgage to go down each month and that is what I pay. We have some fun and save anything after that. I am set to pay off the mortgage in October with this plan.

[anbierl]

Great conversation! Very helpful - thank you!

[livingunashamed]

Dave didn't address that they have a 30yr instead of a 15yr. If they had 15yr like they should then this wouldn't even be a discussion. Husband is right here.

[Cas]

Female caller: I want to use extra money to go on trips.
Dave ramsey: That's fair.

Male caller: I want to use extra money to go on trips.
Dave ramsey: Stop acting like a child and be a man.

[jutde]

The minute Dave told her "You need to know more about the details." and she replied "YeAh, I aGrEe..." I knew she quit listening.

[AmoraLili]

Half mortgage. Half towards trips. Simple.

[ladysparkle]

No trip feel better than being 100% debt free.

[huckleberryfinn]

This woman has no idea how a mortgage, principal and equity works.

[July..]

Pay the house down! Get rid of the mortgage.