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Dave Ramsey

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Janice is calling into the Dave Ramsey Show, and she is concerned about her finances. She and her husband are without retirement funds at 71 years old. She does have $25 Thousand in cash with no debts other than her home and her car. Her husband wants to pay off the car then use those payments to pay off the house. However, Janice really feels stressed over that decision. She is worried she will lose the house and wouldn’t even afford an apartment with that kind of payment. Dave asks her where she gets her income. She gets 2000$ combined in Social Security and a supplemental income from a job that is physically challenging. All together, they make a little over $4000 a month.

Dave gives a big sigh as he ponders over Janice’s issue. He starts by asking Janice about the vehicles she owns. She claims to have a reliable pickup, a car they owe an outstanding debt, and a roadster. Furthermore, Dave doesn’t hesitate to say the Roadsters are gone due to their lack of planning. He tells her that it’s best to sell it pay off the car with the debts, and then put $10 Thousand down on the house. Afterward, prepare for the paying off of the house. With no debt at all, they will be able to make it. He is honest with Janice saying if you want to keep the house, you will need to live like your Bankrupt. He says all the stress comes from living beyond their means.

Catch The Dave Ramsey Show weekdays from 1 to 3 pm on Money Talk 1010
Dave Ramsey is America’s trusted voice on money. 23 million get guidance from Dave’s radio show on Money Talk 1010, his podcasts, and videos. He’s a national best-selling author and has changed over 6 million lives with his guided money plan.

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