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Dave Ramsey

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Adam from Alabama writes into the Dave Ramsey show. He and his wife run a business with two parts; one is catering, and the other is a restaurant. However, Covid has caused significant loss thanks to shutdowns, supply chain issues, and more. Adam’s wife is fully invested in maintaining the business tieing it to her self-worth. However, Adam feels that it would be ok if it just ended here. Adam’s wife wants to take a loan to secure the enterprise, but Adam disagrees with her plan. His question is, how does he deal with his spouse, who wants to push them into debt despite not wanting to run the business anymore.

Christy Wright, frequent co-host, explains that Adam needs to have a sitdown with his wife and figure out the core of the problem. Adam should be on the same page with her since they are business partners and husband and wife. Next, Christy says that before they should ever consider taking out a loan, which they shouldn’t do at all, they should look at possibly downsizing the business, whether they just run the restaurant or do catering. Furthermore, Dave returns to Adams’s comments on his wife and ties her self-worth to the company. He says it’s unhealthy not to do this because it’s your baby in a sense. Dave says there is a fine line for you to meet because of the effects on your mental health. Dave agrees with Christy that if Adam’s wife genuinely wants to succeed, the best bet is to downsize.

Catch The Dave Ramsey Show weekdays from 1 to 3 pm on Money Talk 1010
Dave Ramsey is America’s trusted voice on money. Twenty-three 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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