Don’t Let This Steal Your Wealth! – Dave Ramsey Rant

[Music] brought to you by the every dooll app start budgeting for free today when you narrow it down to I've got just one shot yeah and if I miss that one shot on any decision that you're making you are now rationalizing the decision because it is not a fact that you only have one shot so there's if I don't get this house I'm never going to get a house if I don't buy this car I'm never going to get a car God only put one person on the entire planet for me to marry and if I miss that one I'm going to not be married bull crap okay just bad thinking skills so anytime that you allow anxiety the stress and strain of Life the tragedies of Life the fact you've been fighting cancer or anything else to narrow you down to One Singular decision Rachel's point it was that you're going to make a bad decision yeah yeah yeah and we find that a lot with people because you know cuz money is a tool you know in your life that you're using and when life is hard or life feels out of control or life feels like oh my gosh this this one thing then you use that tool money to go and try to get the control back and try to get that control back yeah and and so there is a there is a patience to slow down and to say let me gather some more options option A B and C and out of that then you can start making okay maybe maybe the answer still is a for whatever your situation is but at least you've researched and you've thought and you've taken time to look at B and C um because man we just because I don't know we talk to people all the time and it was like we're in a house and we shouldn't have bought it but we just thought it was a really good deal we didn't think we could find another deal like this so we got in it and turns out it wasn't you know like you get in this mindset and it's just really it's really dangerous so couple of DEC de bad decisions are one of the primary thing there things that steal your wealth so decision making principles are important so decision- making principle number one if you think there's only one or two things to do you haven't spent enough time Gathering up options options are power options are informative options cause you to really think clearly and so um you know you know like the people that call in they go well we've got mold in our house and the only other house that we can live in is $4,000 a month and we make $5,000 so do we buy a house and go bankrupt or do we stay in the moldy house and kill our children you know and then like you have two stupid butt options and I'm supposed to choose between these two see none of the above keep looking you haven't figured it out yet you know and so that's the kind of thing we're talking about we get that call actually so that's a call that's come in more than once over the years and so it's just cuz you justify the C out of doing something you don't need to do well and fear will do that too did you hear that in your example of mold in the house which is very real but also her husband in the last call he said what if you relapse she said that you know and there's a level of fear there and so facts johnone says when you're facing trauma facts are your friends yep and facts are more and more and more options number two number two decision-making principle slow down to the extent of the size of the decision quit spending all your calories on nothing decisions some people spend more time deciding which gum to purchase in the gas station than they do which car to purchase you spent your calories on the wrong thing the bigger the decision the more time and then you know I I can't I'm Frozen with indecision Dentin or eclipse and and but I but I impulsed a Porsche you know it's like this is the backwards stuff right here you know so the the the size of the decision means you need to slow down and have more and more options uh and then the length of and patience that your pulse rate needs to drop if you got house fever go take a cold shower your pulse rate needs to drop you're about to do something stupid because you can just hear it you can hear the anxiety in the in people's voices when they call in here with these things and not just her she she's a sweet girl she was nervous as part of it too oh no but there's a high level of emotion then Circle back one more thing on her call because I really need to get this out here for her to hear and her husband to hear but also everybody else okay the option of taking your 128,000 and putting it into a a speck house bu building a house from the ground up on a piece of real estate and flipping it immediately a spec a house of speculation Builder Speck house is one option but let me just tell you I grew up in the construction business I I've had my real estate license since I was 18 and I'm older than dirt so I've been doing this stuff a long long time I can tell you for sure that if you have Builder skills you show up on time you finish the project of renovation or new construction on time and you build a budget and stick to the budget you are an unusual animal you are very very marketable cuz most people in the construction business can't even show up much less finish and their numbers are so screwed that they piss everybody off they're dealing with because they don't show up on time they miss their numbers and they don't finish on time and so they never get repeat business because they make everybody mad that they're dealing with if you'll just show up on time you you can own the world and finish on time and hit your numbers you can own the world so that young man if he can do the deal he thinks he can do he can do Renovations and make $300,000 a year yeah he he can grow a renovation and and new and custom housing business build decks put porches on the back whatever it is he can make a bazillion dollar if he has the skill set that she says he has and I don't doubt it yeah and if he can actually pull off projects yeah show up on time take a bath you know a and finish the project on time and hit your numbers you got no competition cuz nobody else in that space hardly does it very few do and the ones that do end up being custom home builders for the rich yeah because they're excellent at what they do exactly and so you you got dude you got so much potential out there if you do that that that you I I think you could take that you can take $128,000 minus $36,000 wor a credit card debt use that to do some some Renovations parlay your way into 300,000 in cash and go do you a couple of these specs later if your numbers are right and I'm wrong cuz I I think your numbers are unrealistic but if I'm wrong about that which I'm happy to be wrong I hope I hope I'm wrong I hope you make 100 I hope you make 100% margin on a construction project but it's very unusual not doesn't happen Okay so if you can do that then you can do what I'm talking about with what's left over after you pay the credit card debt off and that's your third option that's right that's right and it's a classic too example which is happens in so many families and so many marriages is you kind of got your realist and your dreamer right oh yeah and it's like oh just give me this give me the shot give me the shot right and not that all dreamers are wrong because sometimes it it it's right but also I would say to him listen to your wife the the emotional space in your home brings the peace bring the Peace of not owing anyone anything bring the Peace of having Savings in the bank like bring the peace and then and then let's focus on everything else let's go grow this construction for yeah for a wife that's been sick and kids that are like all of it I'm like oh yeah the shame IA that I spent the money our family was going to get rich on to save me from cancer and I'm ashamed that's ridicul I mean no no no no no no no no no no no no so no your family's going to be fine even though you had cancer create your free every dooll budget today the simplest way to budget for your life