I Won $200,000 In The Lottery

[music] brought to you by the Every Dollar app. Start budgeting for free today. >> So, I recently came into uh some lottery money. Um >> Whoa. Whoa. Let's not just Let's not roll right by that. How much did we win, sir? >> Uh so we won right at 200 after taxes. Um it was 350 and they took >> 200 is what you take home. >> Yeah. Okay. >> Wow. Was that state lottery? Yeah, it was a state um kind of a second chance thing they do. >> Wow, >> that's something. Okay, >> you know what? I've never had anybody on the show. Can I ask one quick follow? I've never taken a lottery call on this show. >> Uh was this a random I'm in the grocery store or I'm at the gas station and I see the ticker and I go, I'm going to shoot my shot. Or is this Are you like a guy who played it all the time? >> Well, I was a guy that played it all the time when this when this kind of happened. Um Okay. I since stopped playing, but like I said, it was a second chance. So, you scan a ticket and they put your name in a hat for a second chance and they luckily drew my name. >> Wow, dude. That's so funny. >> Okay. All right. So, to the reason you called, what what's your question? >> All right. So, um prior to this, I was very uh not financially savvy. Like, I was um credit card debt, student debt, um personal loans. Essentially, I was working week to week and going down to zero or sometimes negative in my account. >> Um, so with this, my plan is to go ahead pay off all of my debt, which is about $30,000. Um, and potentially put a down payment on a house. Um, my wife's car just broke down, so potentially get her a new car. But what I don't want to do is mess it up and get back to where I was a month ago week to week. Um, getting down to zero in my account. Well, let's talk about that first. Let's talk about that because you got Jade here to walk you through this. >> Describe for her what you think >> was the cause of you being uh weak to weak, never having enough there, cuz that wasn't that long ago. >> So, presumably, we haven't solved what was going on. So, describe what you think is the source of that. >> You've worked hard to budget, plan, and protect your family's future. But behind the scenes, your personal info, like your address and phone number, is being bought and sold by strangers on creepy websites. That leaves you wide open to problems like scams or fishing attacks, which is why I use and need Delete Me. Delete Me helps you take control of your privacy by removing that info and making it stay gone. And right now, you can get 20% off at jointdeme.com/ramsey with code Ramsay. describe what you think is the source of that. >> Um, I think I think I got credit cards in the mail and I was like, "Okay, I can use those and I just started overspending and not paying attention to my spending." >> Okay. Um, >> and then, you know, I had other debts that I just kind of just kept piling on. I just was not being responsible. >> Understood. What What's your income? >> Uh, I make about 105 a year. >> Okay. >> So, it's not like you're scrapping. And is it just you or is there a wife, kids,? Anything? >> Um, I just married my wife um two weeks ago and we have three kids. >> Three kids. Okay. And does she work outside the house? >> Yeah, she does work. >> What's she make? >> Um roughly 40 have been separate, but >> Okay. But they're coming together. Um I think the key here is you've got to look at what you're bringing home every single month. You've got to look at what you have to spend. What's your margin? And you've got to just give every dollar an assignment. And then that's the practical part. But then the emotional part of actually sticking to it, Ken, is what it's going to be your struggle. Because if you set out and say, "Hey, >> we're only spending $150 on restaurants and you write that on paper." Now it's your chance to say, "Am I going to be the person that keeps the promises to myself or I'm going to am I going to be a person that flakes out every single time? Am I going to be a person that I can depend on that I I can depend on me to say what I do, I what I say I'm going to do, I'm actually going to do." Or are you going to let your emotions lead you and go, "Well, I work hard. I deserve to go to Applebee's one more time." Right? >> That's where the real battle starts. So, I love that he asked the question because you know as much as Ken and I do know know that the $200,000 that is a a wonderful thing. You had some good luck, but that is not the solve of the problem. The solve of the problem is Matt deciding that he's going to be a guy who can look in the mirror and trust himself to do what he says he's going to do >> and have a process for doing it. >> Yeah. In other words, if you say, "Hey, I want to get in shape, put on muscle, cut up, or I want to put on 15 pounds of muscle, or I want to lose 50 pounds of weight." You've got to have a process. You can't just say, "I want it to happen and expect it to happen." Right? >> You got to have a process that is attached to a willingness to change. >> And so, I'm going to start with the budget for you. You didn't know what was going on with any of your money. So, let's take care of the man. Let's get him uh let's get him in every dollar. >> Let's get him in every dollar. And uh I think you need to give him give him a what does he do tonight with every dollar to to change this around. >> Yep. Tonight you sit down with your wife and you put all the numbers and you're going to put in what you guys earn. You're going to pull up the HR website. You're going to look at your check stubs after taxes. That's the number that you're going to put into the budget. Then you're going to go back and you're going to look at all your bank statements and you're going to put accurate numbers for, okay, we already know, yes, this is our cell phone payment, utilities, we know our mortgage or our rent payment, but what do we really spend on groceries? What do we really spend going out to eat? What do we really spend on gas? And you're going to plug those numbers in so you have an accurate picture of, okay, this is what it takes to run my lifestyle. And then you're going to say, okay, honey, we've got this money that's enough to break us free. It's going to it's going to give us a get out of jail free card on this debt on the car and it's even going to help us get a down payment. But today we look ourselves in the eye and say but this is our real income 150,000 and this is what we get to live on and we have to be okay with that. We don't have to keep up with anybody else. It's just us and you guys, you have to kind of um, you know, decide that you're both going to do that and that you're both going to hold each other accountable because trust and believe there's going to be temptations. Obviously, there's always another trip to take. There's always a better car to buy, right? There's always a nicer restaurant to eat at, but you have to be okay with what your lifestyle is. So, don't squander this. And I I I don't think you will if you internalize what we're saying. >> Yep. Hang on the line. We're going to get you started in every dollar. Stay tuned into the show. Create some accountability to where you go, okay, I'm now living this. I'm putting in new financial data into my head as opposed to living like everybody else. 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