The Ramsey Show It's Not Too Late To Become a Millionaire
Jul 22, 2025
Discover strategies for transforming debt into wealth by focusing on budgeting and intentional financial management. Learn about the nuanced realities of student loans and the emotional toll of financial misguidance. Hear compelling stories of individuals overcoming financial challenges, from risky investments to family obligations. The importance of teamwork and clarity is emphasized, showing how proactive steps and educational tools can create a path to financial freedom. Tune in for practical advice on navigating your financial journey!
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Aggressively Pay Off Debt First
- Stop all lifestyle frills and focus entirely on paying off $50,000 debt within a year.
- Suspend 401k contributions temporarily, prioritize sobriety, health, and debt freedom first.
Say No to 0% Car Financing
- Avoid 0% car financing as it usually comes at MSRP, which is not a true zero percent deal.
- Use 401k money to buy a car outright instead of financing to avoid hidden costs.
Parent PLUS Loan Moral Dilemma
- Legally, Parent PLUS loans are the parents' responsibility, but morally, you aren't obligated if you were never told.
- Consider paying off the loan as a gesture to preserve family relationships, but set firm boundaries if asked again.
