The Ramsey Show Your Future Depends on What You Do Today
Apr 28, 2025
The hosts tackle intriguing listener queries, ranging from financial dilemmas in family dynamics to navigating debt and divorce. They discuss the challenge of preparing young adults for financial independence, whether a career without college is feasible, and the intricacies of homeownership and budgeting. Insights on managing significant tax debts and the importance of financial literacy resonate throughout, offering practical guidance for real-life situations.
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Balance Rules and Freedom for Teens
- Parents should balance teaching money discipline with giving teens freedom to learn from mistakes.
- Set clear expectations but allow teens to manage their money under parental guidance for growth.
Keep Mortgage Under 25% Income
- Avoid spending more than 25% of income on mortgage for financial flexibility.
- Save larger down payments to reduce mortgage size and risk of overextension.
Wealth Without College Is Possible
- College isn't the only path to wealth; continuous learning is key.
- Trade schools or on-the-job training can provide relevant skills and success.