Latest news with #JadeWarshaw
Yahoo
3 days ago
- Business
- Yahoo
Philadelphia woman in ‘tricky situation' after her mom asked for $3,000 — from the grandkids' savings account
Andrea, a wife and mother from Philadelphia, recently found herself in a high-stakes financial and emotional crossroads, caught between family loyalty, cultural expectations and a commitment to financial stability. 'I am in a really tricky situation,' Andrea shared during a recent call to The Ramsey Show. 'My brother and my mom are asking me to [lend] my brother $3,000.' Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 5 of the easiest ways you can catch up (and fast) Nervous about the stock market in 2025? Find out how you can access this $1B private real estate fund (with as little as $10) The purpose of the request was to cover her brother's business expenses. But Andrea and her husband have been saving that money to try to pay down debt. Here's what Ramsey had to say to Andrea. Ramsey Show Co-host Jade Warshaw posed an alternative suggestion. 'Why doesn't she lend him the $3,000?' she asked the caller, referring to Andrea's mother. 'Because she doesn't have the money,' Andrea replied. Dave Ramsey's response? 'Neither do you. You're broke and in debt.' But the plot thickened when Andrea revealed her mother's solution: tapping into Andrea's children's savings. 'I talk to my mom sometimes, telling her we save money for the kids, right? So her idea was to take the money from the kid's savings account to give my brother the $3,000,' she said. 'She has a lot of ideas about what you should do with your money,' Warshaw noted, 'Do you feel like you have to listen to what she's asking you to do?' Andrea hesitated, noting her brother once helped her early in her marriage, but that support came in the form of small items for her kids. 'That was not $3,000. That was a hundred dollars,' Ramsey said. 'Because I got to tell you in my world, when grandma asked for the kids' money for the brother, that means grandma needs to be smacked.' Originally from Ecuador, Andrea noted that extended family support is a common expectation in her community. Ramsey responded, 'In your culture, it is more normal to share with extended family … but this is your household. And your household is separate.' Cultural norms can shape financial habits, but limits are limits. Even with that understanding, Andrea expressed hesitation. 'My brother is more … resentful. If you tell him something that he doesn't like … then he's not going to talk to me,' she told the hosts. She feared that saying no would lead to tension or silence. 'There's no consequence here other than adults choosing how they're going to behave next. If your brother gives you the cold shoulder, that's not something you can control,' Warshaw said. 'All you can control is your response.' Andrea admitted that her mom would likely try to persuade her. Ramsey's response was simply, 'No is a complete sentence.' He suggested that Andrea tell her mother, 'Mom, I love you. I love him. That's not in question. But this money is set aside for my children. And the answer is going to be no, no matter how long we talk.' Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says — and that 'anyone' can do it Financial experts emphasize the importance of setting clear boundaries in similar scenarios. According to a survey by Ipsos for BMO, 34% of partnered Americans report that money is a source of conflict in their relationships. Money issues with extended family can add to that stress. Here are some tips to navigate tricky situations like these: Start with an open conversation. Schedule time to sit down and talk about your concerns without placing blame. For instance, Andrea could say, "I understand your situation, but I need to prioritize my children's future savings." Establish firm boundaries. Don't be afraid to set your limits and let your family know that they need to respect them. Offer different types of support. Look for other ways to help, such as recommending resources or financial counseling services that may be useful. Finally, if the conversation doesn't seem to be progressing, consider involving a neutral third party, such as a financial advisor, to help facilitate. It can be tough, but by approaching the situation with firm boundaries, it's possible to maintain family relationships while also protecting your financial well-being. Here are 5 'must have' items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you? Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead Robert Kiyosaki warns of a 'Greater Depression' coming to the US — with millions of Americans going poor. But he says these 2 'easy-money' assets will bring in 'great wealth'. How to get in now This is how American car dealers use the '4-square method' to make big profits off you — and how you can ensure you pay a fair price for all your vehicle costs Like what you read? Join 200,000+ readers and get the best of Moneywise straight to your inbox every week. This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
Yahoo
25-05-2025
- Business
- Yahoo
You Should Live at Home To Save Money Only If You Have This One Thing, According to Jade Warshaw
When some people lose a job or have another change to their economic circumstances, they might consider moving back in with their parents to save money for a bit. Financial coach and co-host of 'The Ramsey Show,' Jade Warshaw, said this is a bad idea-unless you have one thing. She recently posted on her TikTok explaining that you shouldn't move home unless you have an exit strategy. Read More: Find Out: Building an exit strategy can seem daunting at first, but it might be the only way to make sure you don't end up living at home longer than you intended. To supplement Warshaw's point, Oliver Morrisey, an estate lawyer with Empower Wills & Estate Lawyers, offered a game plan for those thinking of moving back in with their parents. Here's how to move back with your parents in the most effective way possible. Moving back home without a plan can mean overstaying your welcome or living with your parents for much longer than you wanted. One way to avoid this is by setting a date to move out before you even move in. To go one step further, Morrisey suggested drafting an informal contract. 'A simple one-page agreement is enough as long as it includes your full name, your parents' names, the move-in date, the agreed move-out or review date, and a brief statement confirming that everyone understands and accepts the terms,' said Warshaw. 'It should be signed and dated by all parties so there is no ambiguity later. A move-out date that's documented and acknowledged gives the arrangement structure and lets you treat this living situation as a transition, not an open-ended stay.' Discover Next: Even if your parents don't ask for rent money, Morrisey said it's a good idea to give something. He said this could be as low as $200 to $300. 'This shows you're treating the arrangement seriously, and it reinforces that you're there with a plan to leave, not stay indefinitely.' Once you have a date to move out in place, know how much money would be enough for you to go back out on your own. If possible, this should include extra money for emergencies. Morrisey then said you can break that savings goal down into months to make it more feasible. 'Let's say the total comes to $9,000. Break that down into monthly savings goals based on how long you plan to stay. If you're aiming to move out in six months, that would mean setting aside $1,500 each month. Mapping this out clearly gives you structure and makes it easier to track your progress,' said Morrisey. More From GOBankingRates Here's the Minimum Salary Required To Be Considered Upper Class in 2025 Mark Cuban Says Trump's Executive Order To Lower Medication Costs Has a 'Real Shot' -- Here's Why This article originally appeared on You Should Live at Home To Save Money Only If You Have This One Thing, According to Jade Warshaw
Yahoo
24-05-2025
- Business
- Yahoo
Dave Ramsey urges Missouri woman who's waiting for sign from God to instantly sell her $60K crypto portfolio
Arabella from Springfield, Missouri called into 'The Ramsey Show' because she was facing a financial fork in the road. Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 5 of the easiest ways you can catch up (and fast) Nervous about the stock market in 2025? Find out how you can access this $1B private real estate fund (with as little as $10) With about $60,000 in cryptocurrency, $14,000 in student loans, and $37,000 in auto debt, she and her husband were preparing to close on their first home. Her question to financial guru Dave Ramsey: Should they liquidate their crypto holdings to become debt-free before taking on a mortgage, or hold out for a market upswing that many in the crypto world anticipate? 'I wouldn't try to time the market with it,' said co-host Jade Warshaw. 'You guys are in debt today, and you're closing on the house really quickly. So, I would liquidate this crypto, and I would pay off this debt. I would do that instantly.' Ramsey didn't mince words about the risks. 'It's one of the most volatile, high-risk investments on the planet. And it's not technically an investment, it's actually called speculation.' Arabella argued the digital coins they hold aren't meme tokens, but admitted their portfolio was worth $30,000 more before President Trump's tariff announcement. 'And so what happens when Trump burps again? You're screwed,' quipped Ramsey. Ramsey and Warshaw emphasized that investing in the cryptocurrency market is more like gambling than wealth building, especially when the assets are held instead of paying off loans. 'It's the roll of the dice. You're in Vegas, and your car payment's on the line,' Ramsey said, repeating Warshaw's advice. He also used a sunk cost analysis to help Arabella reframe her thinking. He asked her that if had no debt, would she borrow on her car and credit cards to buy $60,000 worth of crypto. Arabella responded, 'Absolutely not.' 'It's the same thing!' said Ramsey. 'If you don't sell it today, you've borrowed it again tomorrow.' Read more: This is how American car dealers use the '4-square method' to make big profits off you — and how you can ensure you pay a fair price for all your vehicle costs Arabella then revealed a different reasoning for the couple's crypto holdings as the conversation turned spiritual. 'We are Christian and we do not gamble,' she explained. 'But we felt like God showed us these three specific coins that we're invested in. And we have just been waiting for the right time for him to show us when to sell, which is why we've been holding for five years through two bull runs.' Arabella's story struck a nerve with Ramsey. He drew a clear line between what he believes are scriptural principles of long-term investing and speculation. 'Playing short-term games with money you don't have, cause you're broke … Please don't blame that on the Holy Spirit,' he said. 'It might've been a spirit, but it wasn't the holy one.' Ramsey made his position crystal clear — for her and anyone else listening: when you're deep in debt, hoping for a crypto miracle isn't a plan. It's a bet. Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan 'works every single time' to kill debt, get rich in America — and that 'anyone' can do it Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead Robert Kiyosaki warns of a 'Greater Depression' coming to the US — with millions of Americans going poor. But he says these 2 'easy-money' assets will bring in 'great wealth'. How to get in now Here are 5 'must have' items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you? This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
Yahoo
24-05-2025
- Business
- Yahoo
Dave Ramsey urges Missouri woman who's waiting for sign from God to instantly sell her $60K crypto portfolio
Arabella from Springfield, Missouri called into 'The Ramsey Show' because she was facing a financial fork in the road. Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 5 of the easiest ways you can catch up (and fast) Nervous about the stock market in 2025? Find out how you can access this $1B private real estate fund (with as little as $10) With about $60,000 in cryptocurrency, $14,000 in student loans, and $37,000 in auto debt, she and her husband were preparing to close on their first home. Her question to financial guru Dave Ramsey: Should they liquidate their crypto holdings to become debt-free before taking on a mortgage, or hold out for a market upswing that many in the crypto world anticipate? 'I wouldn't try to time the market with it,' said co-host Jade Warshaw. 'You guys are in debt today, and you're closing on the house really quickly. So, I would liquidate this crypto, and I would pay off this debt. I would do that instantly.' Ramsey didn't mince words about the risks. 'It's one of the most volatile, high-risk investments on the planet. And it's not technically an investment, it's actually called speculation.' Arabella argued the digital coins they hold aren't meme tokens, but admitted their portfolio was worth $30,000 more before President Trump's tariff announcement. 'And so what happens when Trump burps again? You're screwed,' quipped Ramsey. Ramsey and Warshaw emphasized that investing in the cryptocurrency market is more like gambling than wealth building, especially when the assets are held instead of paying off loans. 'It's the roll of the dice. You're in Vegas, and your car payment's on the line,' Ramsey said, repeating Warshaw's advice. He also used a sunk cost analysis to help Arabella reframe her thinking. He asked her that if had no debt, would she borrow on her car and credit cards to buy $60,000 worth of crypto. Arabella responded, 'Absolutely not.' 'It's the same thing!' said Ramsey. 'If you don't sell it today, you've borrowed it again tomorrow.' Read more: This is how American car dealers use the '4-square method' to make big profits off you — and how you can ensure you pay a fair price for all your vehicle costs Arabella then revealed a different reasoning for the couple's crypto holdings as the conversation turned spiritual. 'We are Christian and we do not gamble,' she explained. 'But we felt like God showed us these three specific coins that we're invested in. And we have just been waiting for the right time for him to show us when to sell, which is why we've been holding for five years through two bull runs.' Arabella's story struck a nerve with Ramsey. He drew a clear line between what he believes are scriptural principles of long-term investing and speculation. 'Playing short-term games with money you don't have, cause you're broke … Please don't blame that on the Holy Spirit,' he said. 'It might've been a spirit, but it wasn't the holy one.' Ramsey made his position crystal clear — for her and anyone else listening: when you're deep in debt, hoping for a crypto miracle isn't a plan. It's a bet. Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan 'works every single time' to kill debt, get rich in America — and that 'anyone' can do it Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead Robert Kiyosaki warns of a 'Greater Depression' coming to the US — with millions of Americans going poor. But he says these 2 'easy-money' assets will bring in 'great wealth'. How to get in now Here are 5 'must have' items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you? This article provides information only and should not be construed as advice. It is provided without warranty of any kind. Sign in to access your portfolio
