Financial Advice for Challenging Times

This chapter focuses on financial strategies for individuals facing job and investment challenges, including discussions about debt management and freelance opportunities. The hosts advise on the risks of borrowing for investments and critically evaluate a proposal for investing in a mechanic shop, emphasizing the need for thorough risk assessment and long-term viability.

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📈⁠⁠⁠⁠ ⁠Are you on track with the Baby Steps? Get a Free Personalized Plan⁠⁠⁠⁠⁠

Dave Ramsey and Ken Coleman answer your questions and discuss:

"What's the best way to teach our adopted daughter financial responsibility?"
"How do I navigate my finances after a divorce?"
"Can I invest in a side hustle while in Baby Step 2?"
"Should I pay off my $400,000 business loan?"
"My parents don't support my dream of becoming a fire fighter..."
"My husband hid $75,000 of debt from me and won't talk about it. Can our marriage survive this?"
"We won $1M on a scratch off and wonder what our first steps should be."
"I'm 26 and drowning in $250,000 of debt, how do I get out of this?"
"Is it time to call it quits on my business?"
"I'm my mother's power of attorney, what should I do with her investments?"
"I'm 64 with $80,000 in retirement and I was just laid off, what do I do next?"
"Should I refinance my house to build a rental on my property?"
"Do I keep fighting for my dad’s business or walk away?"
"The home we purchased is costing more than we anticipated. How do we financially attack this while paying off debt?"