My Parents Want Us To Help With The Car Payment

My Parents Want Us To Help With The Car Payment



trevor is with us in Utah hi Trevor how are you hey good how are you better than I deserve what's up so I got very nervous here okay so my mom gave me Financial Peace University I went to class with her cement from them I met my wife we got married two weeks after that she started chemotherapy and did the cancer and so I put off school same with her and then so that was now last year over about a year passed since we sent we had we had to move into her parents house just through the financial circumstances but during that time we happen to pay off about ten thousand dollars of my debt and but now that were moved out her parents gave her a call before I married her they pay the payments on it but they will give the title to us once it's paid off but they're right now asking for help paying it down but at the same time in six months for excuse me a year were long cools out and do an internship for her and how is your wives how's your wife's health now oh good she's finally doing well all go back to normal so the cancer is in remission yeah every three months she goes up into checkups um but so far so good cool okay and so what do you make a year $15 an hour I do part-time because I'm back in school full-time so I think about 700 a paycheck what are you studying automotive technician when we graduate in six months okay and what does she do and what does she make right now she's a manager for a vacation rental property she makes about the same but on a full-time for our week let's make seven or dollars a full-time oh she does fifteen dollars an hour for forty dollars an hour forty hours a week okay but that will change because she will be going back to school in August so she'll be kind of back to part-time same pay as me right now that make sense mm-hmm and what is she going back to school for and how are you guys going to afford for her to go back to school you're broke we both are getting a Pell Grant and we get about $1,000 extra leftovers and she has a scholarship from that I'm in school how old are you – I'm 23 in cheese 20 what do you owe on what does your parent her parents own this car it's right now $14,000 mmm it's a car you can't afford yeah so I would tell them to sell the car okay do you have any suggestions on how do we bring that up do with them I we we make no money we are broke we're both in school we're 23 we can't afford a $14,000 car we really wish you would sell it okay yeah I can't I can't imagine paying payments on anything right now we're on you know what a Pell Grant is yeah I know it's for poor people yeah they don't drive $14,000 cars you're right okay and so you don't qualify for a Pell Grant if you have a 14,000 on a car and and you shouldn't so the car needs to go away you guys need to get a beater car the good news is you know how to work on cars and so six months I'm not sure how you guys are going to eat for the first I think she needs to put off school until spring and let you get out of school and start making some money matter of fact I know she does yeah and you guys need to get you a little one-bedroom apartment it starts your lives off now that the cancer is behind you and you need to arrange your finances in such a way that you're being responsible and that's an inexpensive paid for car a couple thousand bucks one-bedroom apartment she delays school – you get your 6 months done and then you make some pretty serious money as an auto mechanic and support her while she's going through school and you can support the family while she's going through school and then when she comes out with her digital design both of you have a good income at that point you're gonna be doing very well but you've got to work towards systematically towards hitting these goals and that's what it amounts to and you can work on their deaths as you go along but just don't be adding any debts to it you have to pay cash for her school it's the only possible way hope that helps you sir thanks for the call open phones a triple eight eight two five five two two five you jump in we'll talk about your life and your money it is what we do here it's common sense living on less than you make living on less than you make living on a written plan no one accidentally wins the Super Bowl and no one accidentally becomes wealthy wealthy people starting from nothing don't wake up and go wow it's an intentional acts very thought through matter of planning laying out your life and saying this is where I'm going and this is how I'm gonna get there living on less than you make living on a plan staying out of debt having money saved being outrageously generous these are the formulas for a great life

47 thoughts on “My Parents Want Us To Help With The Car Payment

  1. Push the button “sell the car”. Standard issue. Standard response. People get so trapped with car payments. It’s too easy to buy a car way out of your league.

  2. Praying for this family that they can make the right decision and have a peace of mind! Great advice Dave! 👍

  3. She doesn't have to wait. If they have to, a little debt won't kill them. The sooner she starts, the sooner she makes good money.

  4. I need help plz , so I Make 33K year in retail customer service , I work full time and school full time , however I MAY have the opportunity to be a probation officer making 50K a year , should I accept that or stay till graduation (3.5 years) and make 55K starting salary ?? I love both careers but not sure

  5. Sounded good up until the Pell Grant comment. Dave just remined us that he is a baby boomer with that comment. I know people who have used that grant to complete school and are know working in their career of choice making way more money than they did before. Everyone starts somewhere. This caller is a prime example of that. In 6 months he will graduate with NO loans because of that Pell Grant. Time is of the essence, why put off school when you can qualify for a grant that will help you finish and obtain your degree of choice without debt? I usually agree with the advice Dave gives but that comment came off too judgemental.

  6. I've been married and I tell everyone I know to implement and develop a financial plan for your household, especially if you have a wife and children. Its one of the most important things you could ever do for your marriage. And if you happen to come into relationship with someone that doesn't want to abide by a budget and financial plan, let them go and avoid a life long headache and pain.

  7. Sounds like a good kid….

    To be fair, he has no experience in the world of savings and debt – he's just lived in school and had his Love fall ill.

    Praying for this kid and his scene….

    Yours Truly,

    GEG

  8. Dave Ramsey. Taking Financial Peace University changed my life. It changed my way of thinking about life and money. Because of all the garbage on Youtube about fancy cars and real estate, I've started a channel. I hope I can keep it real and something you would approve. "Credit cards are slavery." "Debt is dumb" Thank you so very much for changing my life and the destination of my family.

  9. money is so important. my parents were broke so i never knew about money management. now i do thanks to dave.

  10. He could probably do some side jobs once he finishes school and knows what he's doing.. backyard mechanics tend to make decent money on the side if they know what they're doing.

  11. This is a very simple and easy straight forward situation to get out of. Dave laid it out perfectly and it makes perfect sense.
    I hope they listen and things will turn out well

  12. I pay my mom's car payment for almost 6 years now i have $3000 left if i can do it with a $280 income min wage job you can do it takes planning and hard work and determination to get it done.

  13. If I had an extra vehicle I would give it to this young couple. Dave, do you share testimonials like this on your podcast?

  14. They're young it's good he is seeking help, if you don't know what to do seek help. No one ever made it own their own 💪

  15. Wait a minute. I thought $15 an hour was supposed to fix everything? According to our friends on the left that’s a living wage!

  16. He does realize that every single college student qualifies for at least a grant of some type: Federal or state. Yes lower income people get more, but I don't see why he has to shame people for getting a Pell Grant to go to school. He's an old baby boomer and out of touch with reality.

  17. Always makes me wonder how employed Dave's followers are when all these views pop-up in the first 13 minutes after publication in the middle of the afternoon.

  18. That's a great advice. It is really great to have a lot of experience on life. I hope they can sell the car on a good price and start working on their finance.

  19. It’s painful to say no to my parents they always borrow money from me . I have this problem

  20. This is why it's nice to have money. You don't want to be worried about bills during health issues 💵

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