In this episode of “The Ramsey Show,” host Dave Ramsey is joined by co-host Ken Coleman to help listeners with their career and job-related questions. They also provide valuable advice on various financial topics, including student debt, property ownership, car payments, and more.
Macy and her husband are considering waiting for an employer to pay off their student debt, but Ramsey advises against it. He highlights the risks involved in such offers and recommends paying off the debt themselves if possible. Ramsey suggests looking for graduate scholarships and exploring potential employers or industry players that might have scholarship programs. He emphasizes the importance of being cautious of long-term commitments for short-term problems and considering the reasonableness of any employer-sponsored student loan repayment offers.
Ramsey provides valuable insights on property ownership and taxes. He cautions against quit claiming a property to a child without consent and explains the potential legal repercussions. Ramsey advises seeking legal guidance, such as a real estate lawyer, when dealing with property ownership. He also discusses the importance of paying property taxes and the potential consequences of unpaid taxes. Ramsey suggests considering a trust for property ownership and warns about the risks associated with selling a property with unclear title.
Ramsey exposes the truth about extended warranties, highlighting that they often cover only a small percentage of the cost, with the rest being marketing fees and commissions. He emphasizes the importance of getting back into routines and prioritizing responsibilities, including sleep, for physical and mental health. Ramsey encourages listeners to gainfully employ themselves and consider teaching basic financial literacy as a way to give back. He also advises against relying solely on retirement reserves and emphasizes the value of teaching high school business and finance.
Ramsey emphasizes the significance of getting out of debt as a crucial step towards building wealth. He outlines the baby steps of his financial plan, which include saving a thousand dollars as the first step, becoming debt-free except for the house as the second step, and creating an emergency fund of three to six months of expenses as the third step. Ramsey highlights the power of focusing on paying off debt and making sacrifices, such as cutting down on expenses, to accelerate the debt repayment process. He encourages listeners to tighten their budgets and stay focused to achieve debt freedom within a relatively short period.
Ramsey and co-host Ken Coleman provide valuable job and career advice. They emphasize the transferability of skills and experience from one job to another, encouraging listeners not to limit themselves and to utilize their connections. Ramsey and Coleman stress the importance of communication in explaining one’s situation and flexibility to potential employers. They also highlight the significance of taking care of loved ones and prioritizing personal values over money and career. Ramsey and Coleman emphasize the role of financial discipline and a strong value system in providing options and choices during challenging times.
In this episode of “The Ramsey Show,” Dave Ramsey and Ken Coleman address various financial topics, including student debt, property ownership, debt repayment, and career advice. They provide valuable insights and advice to help listeners navigate their financial journeys and make informed decisions. Whether it’s paying off student loans, managing property ownership, or building wealth through debt freedom, Ramsey and Coleman offer practical strategies and encouragement to achieve financial success. Tune in to “The Ramsey Show” for more expert guidance on wealth building, career growth, and creating amazing relationships.