Big Paychecks Won’t Fix Dumb Financial Decisions
The Ramsey Show
How to handle a $60k 'gift' from dad that he now calls a loan
Jessica asks if she should repay a father’s down-payment gift now treated as a loan; hosts advise getting terms in writing, opting to treat it as inheritance reduction, or formalizing repayment.
🤔 Can an online will work for you? Take this quiz to find out! Jade Warshaw and George Kamel answer your questions and discuss:
- “Why isn’t bankruptcy a good way to force me into a “cash is king” approach to debt?”
- “My mother expects my brother and me to take care of her financially in her old age. What should we do?”
- “How do we pay off a HELOC that we’ve been using as a giant credit card?”
- “How do I deal with family that’s mismanaging their money?”
- “Should I stay in my job or go to college?”
- “I’m $90,000 in debt and I’m struggling to cut back my expenses. How do I get into a “rice and beans” mentality?”
- “My mother is in $90,000 of debt and after digging into her finances, I have no idea how to help her”
- “If I was looking for a risky investment, what are my best options?”
- “Should we pull money from retirement or take out a Heloc to cover our expenses when my husband changes careers?”
- “Do you recommend adult children living with parents without contributing to expenses?”
- “Should we sell our dream home for financial peace?”
- “My father gave me a loan for my house. Should I pay him back or have it taken out of my inheritance?”
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