all right Robby's with us in Sacramento
California hey Robby how are you hello
blessed thank you it's a pleasure to
talk to you Dave Ramsey you too what's
up okay so my siblings and I have been
blessed to have parents that have taught
us that you always buy a car with cash
you never borrow money and you never buy
one new and because of the great strong
Ukrainian community we have here that do
an incredible job restoring cars our
families plan that we've been following
the past couple decades is we buy
salvage title cars that are restored and
we pretty much drive them for a decade
till as long as it's financially
sensible to keep driving it and then at
the end of course you don't really have
equities to put into a new car and or a
replacement car should say and I know
that's not really your plan and I would
be interested in your advice of how to
transition from what I'm doing for a car
now into what you would recommend the
only difference is I would save up to
buy the next car so let's spend that
decade saving up money yeah you say
about money they saw that when I mean
it's not a surprise that this car is
wearing out and so as you see it start
coming to the end of its life you've got
to say okay I got to have ten thousand
dollars by X date or eight thousand
dollars by X date or fifteen thousand
whatever you're going to spend on it
right and I got to have that amount of
money by this date and I look at my
income and I go I got to start saving so
much a month and you pay yourself a car
payment into a savings account so that
when the thing lays down and has its
last breath and you finally put it out
of its misery then you move into the
next part next car okay but now I have I
have a great car it has under fifty
thousand miles on it so I think I can
probably drive this thing for about ten
years okay well you don't need to save
the whole ten years necessarily what's
your household income my personal income
household income um well I don't know
that but but my adult that I thought
your household income is I don't because
no because I live with my family
I don't know what everybody's combined
incomes are no honey I and your husband
and you I am not married
oh okay I'm sorry what are you what do
you make I make forty five thousand yeah
that's what we've got to work with all
right and how expensive a car might you
buy ten years from now just something
that's reliable expensive a car might
you buy ten years from them probably say
15,000 okay how long would it take you
to say $15,000 fadi is probably six
sixteen months okay then let's just say
two years from the time about eight
years from now you'd start saving if you
got ten years left in this car you
follow me I do follow you so I wouldn't
save it as slow and well alright I've
opened a you can do either I certainly
want you to save money and invest money
but you gotta at least start saving in
time to pay cash
so that's your that's your minimum
thanks for the call hey guys thanks for
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clips from the show so you have to break
the cycle you have to flip this thing on
its head and make it behave you've got
to get so fired up and wired up that
you're broke friends think you've lost
your mind
Oh