Give Every Dollar a Name Before the Month Begins | May 17, 2024

The Ramsey Show (May 17, 2024)

Rachel Cruze & Jade Warshaw answer your questions and discuss:
"Is there a downside to recasting a mortgage?"
"Should we tackle our debt right away with a layoff on the horizon?"
"I work hard but I still feel like a guest in my own home..."
"What should I do after maxing out my Roth IRA?"
"Why should I choose mutual over index funds?"
"Should I file for bankruptcy?"

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[monicalifornia_]

If I’m feeling down or panicky over $$ I love this show. I realize I’m not alone and there are folks struggling all around and there is HOPE for us all regardless of situation.

[stacey]

First caller said that an employer may give her student loan repayment as part of a hiring package. Why would you tell her to pay the $12, 000 off now when that could be part of an employment compensation package. When you're in school there's no interest on a student loan, that doesn't start until six months after your graduate and she has the ability to pay it off before the interest kicks in.

If an employer offers student loan repayment as part of a compensation package that would seem to make more sense than paying it off right now.

[sarahbethkeating]

I love that the "debt free" sweatshirt looks like a university sweatshirt. pun intended lol

[nowthatsurban]

Recasting your mortgage IS paying off debt. It’s basically another down payment on your home without changing your term or interest rate. It goes directly to the principal. They told her not to recast and to put her money toward the principal - it’s the exact same thing except a recast lowers the monthly payment. Nice financial advice ladies.

[sagmeister]

You should have a sell the horse shirt. Lol.

[jaykinglv]

Who uploaded this Dave 😂
Heard the same story twice and blacked out twice…..

[jaijai]

I rarely disagree with advice but today was like the twilight zone. Did they really suggest a family with a newborn and facing a potential layoff drop their emergency fund to $1, 000? That seems reckless.

[theclothingcottage]

I don't think you have to call the mortgage company to make additional principal payments. Mine have always had a box you check indicating where you want the additional to go, and it always works.

[jaijai]

29:46 Why would you tell her to payoff the student loan if she could negotiate it as a part of her hiring? It’s not in repayment and she has the cash to pay it off if her new job doesn’t offer repayment.

[brucefredrickson]

No...Chelsea's employer may pay some of her loan...wait for the Fall like she wants to do.

[maceroee]

To the caller in Palm Springs. I live in the Val Verde district about 1 hr. Away and the minimum pay is $70, 000 to $135, 000. They are hiring so many teachers because of the retirement.

[tracyk]

My heart goes out to Nicole's situation. I would be so heartbroken. I probably would be worse off than her and cry on the phone

[elizabethprocida]

An easy way to pay principal is to set up an auto payment with the debt holder and let them know any extra payments that you make should be paid to the principal. We did that with our HELOC … yes I know… but we got it paid down so much faster!❤

[kathigratton]

That’s crazy because I didn’t know this back in the day when I bought my bronco
1996 bronco
I was paying extra payments every month, but I didn’t realize it wasn’t going towards the principal.
I only found out when I called because I was gonna be late on a payment like a day or two and she goes. Oh you’re fine for like six months because the money I sent and I didn’t realize that so it really bit me in the ass.

[Naternot]

I hope the first caller did not pay off her student loans when her employer might offer that as a perk.

[hunter-qxkj]

For Grayden i would sell both and buy bigger. Definitely dont make the kids feel like guests in their own home .

[KristenONeillArt]

When combining two families into one, I suggest everyone move. When I temporarily moved in after selling my house while we waited for our new home to close, it felt like I was on his turf. As soon as we were in "our" home that all went away.

[kathyharrison]

What is going on with this broadcast??? It keeps starting over from the first call!!!!

[paigeedwards]

Love the merch, please do a beans & rice, rice & beans and scorched earth 😊

[VanessaDennise]

So glad you guys are doing merch! You should have a shirt that says

“sell the car”
“Stop acting rich”
“You’re broke”