Use Your Money To Create a Life You Love | September 26, 2024

The Ramsey Show | September 26, 2024

Ken Coleman & Rachel Cruze answer your questions and discuss:
- "We borrowed from my mom to start a business,"
- Why a HELOC isn't an emergency fund,
- "Quit our jobs to travel across Europe?"
- Deciding between paying off debt or saving,
- "What loans should we get to start a business?"

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[bettedavis]

1:03:48 we are (secretly) saving money to help our oldest son with a down payment for his first house. He's debt free, putting 15% towards retirement, and saving for a down payment, as well. We're BS7. Now, if he was a reckless spender, we wouldn't give him a dime. Every family needs to decide on their own regarding helping adult children with a down payment, because I would never advocate gifting money if you are in debt of ANY kind yourself, as well as not being secure with retirement funds. Ken and Rachel are spot on here, imho.

[SpencerBMcDuffy]

The small business cooking call was spot on. Loved the advice and how they delivered it.

[stacieswanner]

Omg Rachel and Ken's faces on business start up loan!!🤣

[alphamaletony]

Love these two broke it down and explain we don't have to keep preaching to the younger ones...gave him room and just be uncle.
I have a nephew that just turn 19 and I just said at things he waste money.
Cause I want to learn things I didn't know at his age..
Now that I listen to these shows I found a yr now I see my nephew I just ask...is there any questions??? Can I help explain anything to you??
Remember am just a call away....
I like how these ladies ang guys break things down.
They are the Limbaugh of Financial n mental health help.

[paulp]

that last call was so nuts. serious delusions of grandeur as if she's immune to the fact that 90% of businesses fail within 5 years.

i got the feeling she's going to go do it anyway and learn a $250k lesson in the process.

i started my own business 11 years ago and started very small just like ken suggested. nothing wrong operating out of the home/garage while testing the business idea before scaling into something bigger.

[Raising_Arrowsx]

Susan, from Erie, PA. Yes start selling from home first, maybe catering, maybe even a food trailer first. Start small first. I think youll have more fun starting small.

[luisasipple]

Dani, get a home inspection done and get a full written report of the house

[jessicakullander]

my spouse had heart surgery as a child. Also ineligible for typical plans. Prudential we found a plan, a little over $600 a year. We took out a term long enough for the youngest kid to graduate high school.

[rositatomashevska]

Oh my goodness!😅 I was just thinking about the "I want a man in finance" thing when Rachel brought it up.😂 Also couldn't concentrate on the question for some time after that😂

[hannak]

The last call, dear.. that's dangerous. I build my business from 0, build up slowly, many area to learn about from getting customer, staff and maintain the income. All need time and mentally ready and steedy. Getting big loan not can make sudden booming orders on our starting level. Big dream only is nothing Need sales improvement.

[romt-]

Have a paid off house and a 24k income is a ticking bomb. The focus is should be her income.

[flotaylor]

My son slept in our room for about 4 weeks (for our own convenience) and by 6 weeks, he was sleeping through the night. He’s 9 now and he’s always been a good sleeper (11 hours a night) and he’s slept in our bed less than a handful of times.

[luisasipple]

All four of my babies were with us in our bedroom for the first three months. After the third month we stayed to train baby to stay in their room. Babies shared bedrooms after our second child

[Ferrero]

My Kid is 1, 5 years old and still wakes up a lot

[Raising_Arrowsx]

I love that you mention helping your children. We are debt free, our house was build by us out of pocket so no morgage. All four of our cars, our boat and camper are all paid for. I have 100, 000.00 in the bank and a $20, 000 emergency fund. About to start investing. I have a 26 year old who is kinda homeless. He lives with friends. He cant afford to rent a place on his own but does have a good job and is doing online school for computer programing. All he really has is his car as far as debt. I would like to build him a small house on some of our property. I think it would hel set him up. I hate seeing him not have a stable home. He lost his brother, my 26 year old a year ago and I feel as our youngest adult son, I really want to help him. Would that be right to do?

[AllenHaggins]

My spouse is already panicking, so many questions! will the rate cut lead to inflation? I'm very worried about my $1million stock portfolio losing value. Do i move to 100% cash? What strategies should I be employing in my portfolio right now?

[Joce]

I would ask the question about why is moving a big deal?. It might be then in the next few months you dramatically down size... Explain why moving is such a big deal and then solve that problem.

[NMelter]

I love Ken! He is so entertaining and fun! He’s so good at this!

[wandajuul]

Former chef here--STOP telling to people to sell food they've cooked in their own homes. You need to produce food for sale in a licensed inspected facility. Rent a place--but don't open yourself up to the potential liability of food cooked at home.

[pandafox]

Insane to spend $250k on cooking equipment.