The Ramsey Show Debt Isn't The Problem - Your Mindset Is
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Mar 24, 2025 Dive into the struggles of navigating personal debt, with callers tackling everything from tax burdens to familial financial pressures. Explore the balancing act of supporting loved ones while maintaining personal accountability. The hosts emphasize the importance of open financial communication, especially in relationships. Discover budgeting strategies for essentials and the impact of rising business costs. Gain insight on protecting against identity theft and understanding complex tax liabilities, all while fostering a mindset of financial empowerment.
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Recurring Tax Debt and Parental Bailouts
- Jeff's son, in his 40s, has accumulated over $200,000 in IRS tax debt.
- Jeff and his wife, now in their 70s, have repeatedly bailed their son out of financial trouble throughout his life.
Resisting the Urge to Bail Out
- Dave and Jade advise Jeff not to bail out his son, encouraging him to take responsibility.
- They suggest potentially changing his will to protect his granddaughter's inheritance.
Post-Marital House Hunting
- Dave advises Graham to wait a year after marriage to buy a house.
- This allows couples to truly understand each other's needs before such a big decision.