The Ramsey Show – You Can’t Change Other People (Hour 2)

Intro

In this episode of “The Ramsey Show,” hosts John Deloney and George Camelot speak with caller Selena, who shares her story of losing everything due to drug use. Selena is a single mother of three boys, one of whom has autism, and she stays in sober living with two of her children. The hosts offer guidance and advice on prioritizing sobriety, improving financial health, and making responsible financial decisions. They also discuss the importance of personal finance education for students and the impact teachers can have on their lives.

Main Takeaways

Prioritizing Sobriety and Emotional Support

• Focus on staying sober and being a connected mom before pursuing other goals
• Draw a picture of your goals to help trust and believe in them
• Prioritize sobriety even if it means children staying with someone else temporarily
• Avoid using children as emotional support
• Celebrate sobriety milestones and focus on self-love

Improving Financial Health

• Receive financial tools and seek accountability from sober living community
• Take action to improve financial health
• Educate yourself and seek resources before making financial decisions
• Speak up and offer resources to friends considering bankruptcy
• Deal with tough situations with urgency and directness

Homeownership and Responsible Financial Decisions

• Save for a down payment by living on as little as possible
• Consider investing 15% while saving for a down payment
• Rent for a year before buying a home to practice living on your own
• Understand the expenses beyond the mortgage in homeownership
• Make responsible financial decisions as part of growing up

Personal Finance Education for Students

• Financial literacy is important for all students
• Personal finance education can help students avoid unnecessary debt
• Teachers can use Ramsey Solutions’ education programs
• Teachers have a significant impact on students’ lives

Building Wealth and Planning for the Future

• Find a balance between giving, saving, and spending
• Take time to dream and plan for the future
• Having options and finding passion leads to continued wealth building
• Plan for everyday and big moments to build the desired life
• Use budgeting apps to track spending and save

Summary

Prioritizing Sobriety and Emotional Support

Caller Selena shares her story of losing everything due to drug use. The hosts encourage Selena to prioritize her sobriety and being a connected mom before pursuing other goals. They suggest drawing a picture of goals to help trust and believe in them. It’s important to prioritize sobriety even if it means children staying with someone else temporarily and to avoid using children as emotional support. Celebrating sobriety milestones and focusing on self-love are essential in the recovery process.

Improving Financial Health

Selena is advised to receive financial tools and seek accountability from her sober living community. Taking action to improve financial health is crucial, and it’s important to educate oneself and seek resources before making financial decisions. The hosts emphasize the importance of speaking up and offering resources to friends considering bankruptcy. They also discuss the significance of dealing with tough situations with urgency and directness to avoid financial pitfalls.

Homeownership and Responsible Financial Decisions

The hosts provide guidance on saving for a down payment by living on as little as possible and considering investing 15% while saving. Renting for a year before buying a home is recommended to practice independent living and understand the expenses beyond the mortgage. Making responsible financial decisions is highlighted as part of growing up and building a stable financial future.

Personal Finance Education for Students

Financial literacy is emphasized as important for all students. Personal finance education can help students avoid unnecessary debt for college expenses. Ramsey Solutions’ education programs are suggested for teachers to incorporate into their curriculum, as they have a significant impact on students’ lives.

Building Wealth and Planning for the Future

The hosts discuss finding a balance between giving, saving, and spending once financial stability is achieved. Taking time to dream and plan for the future is encouraged. Having options and finding passion leads to continued wealth building and fulfillment. Planning for everyday and big moments is essential in building the desired life. Budgeting apps like EveryDollar are recommended for tracking spending and saving. Subscribing and leaving reviews for financial podcasts can help spread the message of financial empowerment.

Conclusion

In this episode of “The Ramsey Show,” hosts John Deloney and George Camelot provide guidance and advice on prioritizing sobriety, improving financial health, making responsible financial decisions, and the importance of personal finance education for students. They emphasize the impact teachers can have on students’ lives and the significance of building wealth and planning for the future. Taking control of one’s finances can lead to improved relationships and overall well-being.