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12 hours ago
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Dave Ramsey Dissects Trump's Big Beautiful Bill: 'There's No Big Beautiful Thing In Here. It's A Bunch Of Nickel And Dime Stuff'
During a recent episode of 'The Ramsey Show,' personal finance expert Dave Ramsey and co-host George Kamel broke down President Donald Trump's newly passed legislation, dubbed the 'One Big Beautiful Bill Act.' Their verdict? It's mostly minor tax tweaks dressed up in bold branding. Ramsey: 'Quit Waiting On The White House To Fix Your House' 'There's no big beautiful thing in here,' Ramsey said. 'It's a bunch of nickel and dime stuff.' While some provisions might help everyday Americans, Ramsey was straightforward: personal finance still comes down to individual responsibility. 'Quit waiting on the White House to fix your house,' he said. Don't Miss: —with up to 120% bonus shares—before this Uber-style disruption hits the public markets $100k+ in investable assets? – no cost, no obligation. One of the biggest wins, according to the hosts, is that the 2017 tax cuts were made permanent. Most Americans—around 90%—take the standard deduction, and this move keeps taxes simpler and lower for them. 'It keeps you from having to pay federal income tax for a whole bunch of you at all just because you get this huge standard deduction,' Ramsey said. Tax Breaks On Tips, Overtime And More Temporary deductions for tips and overtime are also part of the bill, running from 2025 to 2028. Workers can deduct up to $25,000 in tips and $12,500 in overtime income, with higher limits for couples. But those benefits phase out for individuals earning more than $150,000 or couples over $300,000. 'That's still a few thousand bucks for most people that work on tips,' Kamel noted. Ramsey also highlighted a one-time $1,000 "Trump Account" for babies born between 2025 and 2028. It's held by the Treasury and has usage restrictions. 'It's just a thousand bucks,' Ramsey said. 'I'm not sure how they're investing it. I'm not sure how much control you'll have,' Kamel added. Trending: Named a TIME Best Invention and Backed by 5,000+ Users, Kara's Air-to-Water Pod Cuts Plastic and Costs — EV Credits Gone, Car Loan Perks For Debtors Only The bill ends the $7,500 tax credit for electric vehicles on Sept. 30. 'We knew that was coming. We knew Elon was pissed. Everybody's seen that,' Ramsey joked, referring to Tesla (NASDAQ:TSLA) CEO Elon Musk. It also removes credits for rooftop solar and other energy-efficient upgrades after 2025. Meanwhile, those who finance new American-made vehicles can now deduct up to $10,000 in loan interest annually. Ramsey pushed back: 'Why only let the people who took out debt benefit from this? That's an odd one.' Medicaid is also changing. By 2026, most childless adults must document 80 hours of work, training or volunteering per month to qualify. Kamel noted, 'That's about a part-time job right there.'Other Changes: Some Useful, Others Symbolic According to Ramsey, the child tax credit increases to $2,200, and more people can now use Health Savings Accounts for things like gym memberships. 529 education savings plans were also expanded to cover tutoring, dual enrollment and trade school expenses. Charitable contributions get a small boost too. Starting in 2026, taxpayers can deduct up to $1,000 in donations—$2,000 for couples—even with the standard deduction. Ramsey wasn't impressed: 'It's a whole thousand. Whoopee. No big deal.' Small business owners under $31 million in revenue will benefit from the return of the research and development tax credit. Ramsey called that move 'big' and said it was a long-overdue fix. While the bill may offer a few financial perks, Ramsey emphasized it won't radically improve anyone's life. 'I don't see someone on a golden horse riding in to save your day here,' Kamel said. The bill raises the debt ceiling by $5 trillion, expected to last through Trump's term. Ramsey concluded. 'It's a bill. I'll give them that.' Read Next: Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die."UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? TESLA (TSLA): Free Stock Analysis Report This article Dave Ramsey Dissects Trump's Big Beautiful Bill: 'There's No Big Beautiful Thing In Here. It's A Bunch Of Nickel And Dime Stuff' originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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2 days ago
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Dave Ramsey Caller Says Her Husband Makes $156,000 But They Can't Afford Groceries. He Spends $700 Monthly On Vices. Ramsey Isn't Having It
A pregnant stay-at-home mom recently called into 'The Ramsey Show' to ask whether she should pay off a $20,000 car loan. But what started as a budgeting question quickly turned into a deeper discussion about addiction, money control and safety in the home. Ramsey And Warshaw Press The Caller To Face The Real Issue The caller explained that her husband, who earns their household's entire $156,000 income, spends about $6,000 a year on tobacco and marijuana. She added that recent family deaths have caused his usage to spike to about $700 last month alone. 'Things are super tight,' she said. 'I'm afraid if I do cut a check, pay off the car, and we gain the $600 monthly to help with groceries and other bills, it's just going to go out the window.' Don't Miss: Deloitte's fastest-growing software company partners with Amazon, Walmart & Target – Many are rushing to grab $100k+ in investable assets? – no cost, no obligation. Host Dave Ramsey didn't dance around the issue. 'If I was to say that my wife was an addict, that would mean that our marriage was either getting ready to end or she was getting help next week,' he said. 'But you use this like it's part of the budget.' He challenged the caller's description of her husband as an addict, pointing out that she allows him full access to their joint account where his paycheck is deposited. 'If you're going to call him an addict, you're going to have to act like it,' he said. 'If he drinks a six-pack of beer or whatever ... and he's not drunk and it's not affecting his work life, but you don't like it, that's different than an addict.' Co-host Jade Warshaw jumped in, asking whether this is a budgetary thing or an actual addiction? The caller insisted that her husband says he wants to get help, but 'the come to Jesus talk happens about every two weeks.' Trending: Named a TIME Best Invention and Backed by 5,000+ Users, Kara's Air-to-Water Pod Cuts Plastic and Costs — When the caller shared more numbers—a $3,400 mortgage, a $600 car payment, and two $3,900 paychecks hitting their account each month—Ramsey wasn't convinced by her claim that they couldn't afford groceries. 'You are not out of food because he spent 750 bucks,' he said. 'Now, you are going to be out of food if he loses his job because he stays drunk all the time.' According to Ramsey, the bigger issue wasn't whether or not to pay off the car, but whether her family was in a safe and financially stable environment. 'You're either going to have to reclassify this in your mind or you're going to have to take some more severe action than you have been willing to take so far,' he said. Warshaw and Ramsey both urged her to seek marriage counseling and make a straightforward decision: either treat the problem like an addiction and act accordingly, or stop labeling it as one. Ramsey ended the call bluntly: 'I can't tell what the flip's going on here.' Read Next: This AI-Powered Trading Platform Has 5,000+ Users, 27 Pending Patents, and a $43.97M Valuation — Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die."UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? APPLE (AAPL): Free Stock Analysis Report TESLA (TSLA): Free Stock Analysis Report This article Dave Ramsey Caller Says Her Husband Makes $156,000 But They Can't Afford Groceries. He Spends $700 Monthly On Vices. Ramsey Isn't Having It originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
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2 days ago
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Dave Ramsey Caller Says Her Husband Makes $156,000 But They Can't Afford Groceries. He Spends $700 Monthly On Vices. Ramsey Isn't Having It
A pregnant stay-at-home mom recently called into 'The Ramsey Show' to ask whether she should pay off a $20,000 car loan. But what started as a budgeting question quickly turned into a deeper discussion about addiction, money control and safety in the home. Ramsey And Warshaw Press The Caller To Face The Real Issue The caller explained that her husband, who earns their household's entire $156,000 income, spends about $6,000 a year on tobacco and marijuana. She added that recent family deaths have caused his usage to spike to about $700 last month alone. 'Things are super tight,' she said. 'I'm afraid if I do cut a check, pay off the car, and we gain the $600 monthly to help with groceries and other bills, it's just going to go out the window.' Don't Miss: Deloitte's fastest-growing software company partners with Amazon, Walmart & Target – Many are rushing to grab $100k+ in investable assets? – no cost, no obligation. Host Dave Ramsey didn't dance around the issue. 'If I was to say that my wife was an addict, that would mean that our marriage was either getting ready to end or she was getting help next week,' he said. 'But you use this like it's part of the budget.' He challenged the caller's description of her husband as an addict, pointing out that she allows him full access to their joint account where his paycheck is deposited. 'If you're going to call him an addict, you're going to have to act like it,' he said. 'If he drinks a six-pack of beer or whatever ... and he's not drunk and it's not affecting his work life, but you don't like it, that's different than an addict.' Co-host Jade Warshaw jumped in, asking whether this is a budgetary thing or an actual addiction? The caller insisted that her husband says he wants to get help, but 'the come to Jesus talk happens about every two weeks.' Trending: Named a TIME Best Invention and Backed by 5,000+ Users, Kara's Air-to-Water Pod Cuts Plastic and Costs — When the caller shared more numbers—a $3,400 mortgage, a $600 car payment, and two $3,900 paychecks hitting their account each month—Ramsey wasn't convinced by her claim that they couldn't afford groceries. 'You are not out of food because he spent 750 bucks,' he said. 'Now, you are going to be out of food if he loses his job because he stays drunk all the time.' According to Ramsey, the bigger issue wasn't whether or not to pay off the car, but whether her family was in a safe and financially stable environment. 'You're either going to have to reclassify this in your mind or you're going to have to take some more severe action than you have been willing to take so far,' he said. Warshaw and Ramsey both urged her to seek marriage counseling and make a straightforward decision: either treat the problem like an addiction and act accordingly, or stop labeling it as one. Ramsey ended the call bluntly: 'I can't tell what the flip's going on here.' Read Next: This AI-Powered Trading Platform Has 5,000+ Users, 27 Pending Patents, and a $43.97M Valuation — Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die."UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? APPLE (AAPL): Free Stock Analysis Report TESLA (TSLA): Free Stock Analysis Report This article Dave Ramsey Caller Says Her Husband Makes $156,000 But They Can't Afford Groceries. He Spends $700 Monthly On Vices. Ramsey Isn't Having It originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Se produjo un error al recuperar la información Inicia sesión para acceder a tu portafolio Se produjo un error al recuperar la información Se produjo un error al recuperar la información Se produjo un error al recuperar la información Se produjo un error al recuperar la información
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3 days ago
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California woman says she threatened a debt collector after taking this 1 nugget of advice from Dave Ramsey
Mary from San Bernardino, California, is one month into following financial advice from The Ramsey Show, and although she's already completed step one of Dave Ramsey's baby steps, she finds herself facing pressure due to her debt. She shared with hosts Jade Warshaw and Ken Coleman that she has $9,000 in collections and $10,000 in active student loan debt, and recently got a call from a debt collector demanding payment on a $6,000 balance and threatening legal action. Instead of panicking, Mary used a line she heard on the show: 'My financial advisor told me I might file bankruptcy, so if I do, you'll get the call. Remove me off your call list.' Then she hung up. The call left her rattled. She wasn't sure if she'd gone too far or just stood her ground. So she called into The Ramsey Show for help. Here's what the hosts had to say, and what they told her to do next. Don't miss 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 6 of the easiest ways you can catch up (and fast) 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 How Mary handled the threat, and what the hosts think Co-hosts Jade Warshaw and Ken Coleman applauded her efforts. 'What you essentially told them is I don't have the money that you're asking for and I'm broke. And so, if you think you're going to get that money from me, you're wrong,' said Warshaw. Warshaw expanded, 'Credit card companies do sometimes sue you. But it takes a long time to get to that step.' After confirming that she did the right thing, the hosts offered to coach her through their next steps. Read more: Americans are 'revenge saving' to survive — but millions only get a measly 1% on their savings. Moving beyond the threat Mary shared that she now has a $261 monthly surplus after sticking to her budget. The hosts recommended she use that surplus to work the debt snowball plan, which involves paying off her smallest debt first and working her way up from there. Mary mentioned that she'd sent a money order of around $450 to pay down her debt in collections, but Warshaw advised against continuing that plan. Instead, Warshaw suggested that Mary pause those payments and save up around $5,000 to offer a lump-sum settlement on the $6,000 debt in collections. This approach could help her clear the balance for less than she owes. 'That is what you do with debt in collection, you settle it,' said Warshaw. Beyond that, Mary is already taking proactive steps to grow her income. She recently launched a nutrition and meal prep business, earning $2,040 per month — with plans to expand. Warshaw left her with these encouraging words: 'You're capable of far more than you ever thought possible.' For others in a similar position, the path forward includes more than just budgeting. The hosts recommend focusing on a few key steps: Stick with the debt snowball method Pause payments on collections and negotiate a lump-sum settlement Freeze any new credit card use Grow income through side work or entrepreneurship Build a 3- to 6-month emergency fund after debts are repaid By staying focused and strategic, Mary, and others like her, can dig out of debt for good. What to read next Robert Kiyosaki warns of 'massive unemployment' in the US due to the 'biggest change' in history — and says this 1 group of 'smart' Americans will get hit extra hard. Are you one of them? How much cash do you plan to keep on hand after you retire? Here are 3 of the biggest reasons you'll need a substantial stash of savings in retirement Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead Here are 5 'must have' items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you? Stay in the know. Join 200,000+ readers and get the best of Moneywise sent straight to your inbox every week for free. This article provides information only and should not be construed as advice. It is provided without warranty of any kind. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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3 days ago
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Canadian man sitting on $1.8M debt — what Dave Ramsey tells him to do before his whole life goes up in flames
While homeownership was once viewed as a path to wealth and financial stability, some homeowners are feeling trapped by homes they can no longer afford. Take Mendy, for example. This 35-year-old from Canada has a total of $1.8 million in debt, which includes his family home and a triplex he was renting out in Montreal. Now, with a second child on the way, Mendy's feeling downright anxious about his financial situation. Don't miss 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 6 of the easiest ways you can catch up (and fast) 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 When Mendy called into The Ramsey Show for advice, host Dave Ramsey was rather blunt, telling Mendy that he and his wife need to make some serious changes before it all burns to the ground. Struggling under the weight of debt As Mendy explained on the show, he owes $590,000 on the family home, which is worth $750,000. He also owes $680,000 on the triplex, worth about $850,000, which he's listed for sale (so far, there haven't been any takers). On top of that, he owes roughly $70,000 on each of his two electric vehicles, along with $35,000 in student loan and credit card debt, and another $350,000 in personal debt (mainly to his cousin, who lent him money for a down payment and for renovations to both properties). Mendy's total household income is around $120,000 per year before taxes. 'I had my 'a-ha' moment when I saw $22,000 going out in one month after doing a budget and I don't know what exactly to do,' Mendy shared with Ramsey and his co-host, Rachel Cruze. 'I cut out everything from potato chips to haircuts, literally anything I could to curb the debt.' Taking on more work isn't exactly an option, either. As he explained on the show, Mendy is bipolar and his doctor has told him he needs to maintain a healthy work/life balance. And making matters worse, his wife is about to go on maternity leave. 'The answer to getting rid of this anxiety is getting rid of all the crap and the debt associated with it,' said Ramsey. That starts with getting rid of the EVs and replacing them with cheap cars, 'like, $5,000 cars,' said Ramsey. While Mendy has given up on being a landlord and is trying to sell the triplex, 'that thing's got to be priced in such a way that your real estate agent can sell it and get it gone,' said Ramsey. If Mendy can make a profit of $200K to $250K on the triplex, he could then use that to pay off a chunk of his $350K personal debt. Ramsey also says getting Mendy's wife on board will require a serious conversation. 'The house is on fire, darling,' said Ramsey, assuming the role of Mendy in this conversation with Mendy's wife. 'You get to decide with me if we're going to let the house burn down or are we going to do something to put it out?' Read more: Americans are 'revenge saving' to survive — but millions only get a measly 1% on their savings. Why homeownership isn't a safety net anymore For decades, owning a home has been considered the ultimate financial security blanket, offering a path to future wealth. But these days, for many middle-class families, homeownership can mask financial instability rather than solve it. As a result, many Americans currently find themselves in a 'homeownership trap,' where the financial burden of owning a home eclipses other financial goals and erodes their quality of life. 'This year, the U.S. housing market is shrouded in uncertainty, with little indication that record-high levels of unaffordability will ease anytime soon,' states the Harvard Joint Center for Housing Studies in a report called The State of the Nation's Housing 2025. Property taxes increased by an average of 12% between 2021 and 2023, according to the report, while home insurance premiums increased 57% from 2019 to 2024. In some states — like California, Florida and Louisiana — the 'scale and frequency of climate disasters has prompted private insurers not only to raise premiums, but in some cases to reduce coverage or pull out of markets entirely.' As a result, an increasing number of homeowners are cost burdened, meaning they spend more than 30% of their household income on housing and utilities. 'As of 2023, nearly a quarter (24 percent) of all homeowners are cost burdened,' according to The State of the Nation's Housing 2025 report. That 24% translates to 20.3 million households throughout the U.S. It's also a 'reversal of a nearly 10-year trend of consistent declines in homeowner cost burdens between 2010 and 2019.' How to avoid falling into a money pit If you're planning to buy a house, you'll want to make sure you're budgeting for everything — not just the purchase price. Consider property taxes, insurance, utilities, repairs and ongoing maintenance. If you have a variable-rate mortgage, you'll also need to have room in your budget for payments with higher interest rates. Once you tally up these costs, if the total is well above 30% of your household income, you may want to consider other options — such as buying a smaller, less expensive home or even co-buying with friends or family. You'll also want to shop around for the best mortgage rate you can find, since the current rate averages around 6.72% for a 30-year mortgage. To negotiate a better rate with lenders, it helps to have a strong credit score and low debt-to-income ratio. If you can afford a 20% down payment, then you can avoid paying for private mortgage insurance (PMI) each month on a conventional loan. 'Borrowers making a low down payment might want to consider other types of loans, such as an FHA loan,' according to the Consumer Financial Protection Bureau. 'Other types of loans may be more or less expensive than a conventional loan with PMI, depending on your credit score, your down payment amount, the lender, and general market conditions.' If you're already living in a money pit, you could try to renegotiate your mortgage to lower your monthly payments. For example, you could consider a loan modification (changing the terms of your mortgage) or refinancing (replacing your existing mortgage with one that has better terms). For those living in a home they can no longer afford, like Mendy, the solution could require a more radical change — like finding a roommate, downsizing to a smaller home or moving to a less expensive neighborhood. And, like Ramsey said, 'quit buying crap you can't afford.' What to read next This tiny hot Costco item has skyrocketed 74% in price in under 2 years — but now the retail giant is restricting purchases. Here's how to buy the coveted asset in bulk Here are the 6 levels of wealth for retirement-age Americans — are you near the top or bottom of the pyramid? Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead Here are 5 'must have' items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you? Money doesn't have to be complicated — sign up for the free Moneywise newsletter for actionable finance tips and news you can use. This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
