Don’t Be So Desperate That You Make a Stupid Decision | May 9, 2024

The Ramsey Show (May 9, 2024)

Dave Ramsey & Ken Coleman answer your questions and discuss:
- Why desperation can lead to stupid decisions if you're not careful,
- "What's the best place to invest for retirement?"
- How Dave recommends someone invest in real estate,
- Repairing a car vs. replacing it,
- Why you should drive like no one else now so you can drive like no one else later,
- "We found asbestos while renovating our home..."

Next Steps:

Support our Sponsors:

Watch more from Ramsey Network:

Ramsey Solutions Privacy Policy

[dawnmorandin]

I raised two kids without a car...we walked or took the bus/train. We always lived in town so we could get to all the essential store, Doctors, school, grocery store. In a emergency we called a cab ( much cheaper than paying for a car, insurance, winter tires, maintenance and gas ) so we are now debt free and paid off the mortgage on our house and the rental house we own. With home deliveries nowadays I can get everything at my door in one day or less.

[jamielee]

“The math is not working. Math does not give you a pass, math does not believe in grace, math does not believe in mercy. It’s going to come for you!”

This is important and I needed to hear it!

[jeremy_logan]

I'm a simple man. I see Dave in the thumbnail, I click

[lindatobar]

So true, hard to give advice how bad credit cards are for you. When they’re so hook on getting points. I paid off 5 credit cards, close accounts and cut them up. I will be out of debt by August 8, 2024 Debt free Yay 🎉 👏🏻🥳

[MsLally]

Guys, Michigan residence get a discount going to a Michigan College. If we go to an out of state college, we pay a premium.

[scrubseverr]

Dave's advice to Lauren was spot on. 🎉 It's so easy when we go through stress and trauma to feel trapped and devoid of options, and the best way to get out of there is to decide and move forward through the pain.

[pb-fwhn]

MD here. I don't think you get through med school in the US for less than that. actually, I think that is a bargain. scary but true.

[staceymeldrum]

Your patient might not care where you went to med school but your employer will. It matters when it comes to vying for positions, networking, making connections etc.

[rebeccafunk]

I was a single mother twice over. Lived with family and went back to school in 2002. I went to a tech school debt was 10, 000 after a credit for being a single parent. Fast forward, I have been at the same company for almost 19 yrs. Paid off my student loan and am still raising a 16yr old. I made the decision when I was pregnant with my youngest was to move away from the city. I bought a mobile home in a nice park. Paid off the mobile home so my lot rent is 350 a month that is it. I have no debt at this point and the reason why is I live cheap. I tell my son, futher education is important but not a 4 yr degree that is going to be at least 80, 000. Go to a tech school. my 401k is at 20 percent, I also have a pension. My son started working at 14 . That is his money now because I am trying to teach him, you have to work hard to get anywhere in life.

[nonamvr]

Great episode! Can't wait to do a debt free scream!

[LordBass]

How does one "listen to Dave for a long time" and also react "wow" to the suggestion of cut up the cards and have a zero credit score.

[teresahunt]

I have one credit card with a $2500 balance. Minimum payment is $100. I paid 1k last month and plan to pay $1250 for the next 2 months. The charges on the card were made out of true necessity after my husband died. It is my only debt. Moving forward, I will be able to save/invest half of my monthly income.

[ann]

A medic I used to work with on the ambulance went to medical school in Italy and paid a mere fraction of what she would’ve in US.

[Trustbutverify]

The RS folks are almost all very weak on any kind of post-college educational advice, PARTICULARLY about any kind of medical, pharma, dentist, vet, etc. school. Because of their philosophy of no debt ever, it's impossible for them to stray from their party line which is unfortunate because they cannot offer really good solutions to minimize the debt which students in these fields will almost certainly have to take on due to the nature of this kind of preparation - the cohort system, clinicals, practicals, irregular schedules for all kinds of reasons, and an ungodly amount of study required. The trick is to PAY OFF THE DEBT while keeping living expenses at a minimum when med school is over, rather than treating yourself to lifestyle creep with an expensive car, large home, country club, etc. When your debt is paid, then you can up your lifestyle.

[angooredcow]

I just Googled. It is:

As part of the HPSP, the Military will pay your tuition, provide a living stipend and reimburse you for required books, equipment and supplies. Once you are accepted for the HPSP, your Service branch will contact your medical school and start paying your tuition.

[dustydonna]

Love Ken on the program. Always gives good career advice. And he's funny!

[faltio]

I love dave but Med school acceptance is not his expertise. For the most part you don’t have a choice of which Med school you get accepted; cheap or expensive. It is very difficult to get accepted to Med school period! There are other options to get help in paying off your Med school loans that they show you in Med school by their financial advisors.

[robyngothelflmswmed]

BE KIND TO HER, DAVE!! SHE IS GOING THROUGH A LOT.

[naadalen]

I worked at a hospital that gave loan forgiveness and it helped so much

[joehess]

Work for the Indian Health Service after you are done with your education and you will have your school paid off in a few years.