“Amputate the Bronco, Buddy”

[Music] brought to you by the every dooll app start budgeting for free today me and my wife are kind of young and dumb um we've uh done stupid with a lot of zeros as you'd say we're new listeners to the show um so basically you get right to the point uh we're just kind of wondering if we have an income problem or a budget problem okay what do you think it is I think it's a budget problem and uh she thinks it's an income problem she's looking into a new job what's your income uh we make 110,000 years household MH what does she make she makes 60 okay and she thinks she can make more uh yes uh she's a travel CNA and she's looking into taking a contract in Pennsylvania you're in charest an hour pay I'm sorry you would move to Pennsylvania uh she would just go to stay there during the duration of the contract how long's the contract um it's built in for about 16 weeks but it's indefinite so it could be as long as she wants it to be H okay um and how much would she make instead of 60 she would make what um so she's making about 27 an hour now she'd go up to 35 okay are do you guys have debt are yall are yall trying to get out of debt or you just trying to uh yes okay how much debt do you guys have oh Lord this number makes me sick um we are just sh 94,000 on what uh credit cards personal loans and car notes what do you owe on the cars uh 75,4 56 on and break that down which car is which uh so she has a 2 24 Ford Bronco uh she owes about 44 Grand on it mhm and she also has a 28 Ford Fusion which she owes a little under 16 on and I have a 2010 Chevy Silverado and I ow about 15,000 on it why do we have three cars uh very dumb mistake okay there's not there's not three there's not three people there right there's just two how long have you been married um since May okay all right and you can yeah so Donnie here's the thing um I tried for years to out earn my stupidity and um it always would catch me from behind and tackle me so before I let my brand new wife be gone from me for 16 weeks to make a few dollars more I would sell the crap out of every car sitting in your driveway and get you two $2,000 hoopties and have a wonderful first year of marriage okay you need to amputate the Bronco buddy you ain't going to do it though are you well it's hers so I don't care it's not hers it's ours we just got married I agree but in her mind it's probably hers and he's going to have to convince her I mean you got to convince does she does she want to do this too like meaning like this plan does she want to get out of debt and is she like cuz part of the sacrifice of going and moving away for 4 months there's obviously something there but hers is the income problem is what you're saying or trying she's trying to out earn the Bronco and the Bronco's going to run her over car tracks yeah I mean just looking at the simple math really fast I'm like you can almost cut this in half by selling two of the cars hello ding ding ding ding sixth grade buddy you can go down to $54,000 your brand new newlywed wife wants to trade four months time with her husband for her Bronco bad trade okay um so how would you guys recommend going about the negative equity uh that's that's a big problem we've got with all three vehicles um I would borrow the difference okay it still is going to be a whole lot less debt than you have yeah but you guys are you guys are car poor is your problem these cars have you got $90,000 in debt 75 of it cars yes sir yeah you got a car problem which honestly Donnie on the on the joyful flip side of it this is amazing because you can you can actually do something about it some people call us and they have $100,000 in student loan debt that you got to just grind it out you can't sell the student yeah this this you can actually make a big D like really quickly like this is this is the best case scenario the best case scenario right like you can actually do something drastic and what a what a gift see it as a gift of like oh my gosh we can actually make really big strides it's going to take some you know making some changes but it's a car yeah when I was you guys can get that later when I was a new husband I was a stupid husband so let me tell you how not to do this cuz I've done it honey I talk to these guys we're going to sell your car that's not how you do it okay the way you do it is I love you so much I want to spend time with you I do not want you to be away from me and I feel like we're trading all that time away just to keep a Bronco that Bronco doesn't mean anywhere near as much to me as you do much better sales technique okay yes sir and and you guys Donnie lay this out seriously to together tonight sit down and you guys do a timeline and just look at run numbers get a sheet of paper and a pen and a calculator and just sit there and just do a run a bunch of numbers a bunch of timelines and like actually get a plan in place have you did you guys even think about selling the car I'm just curious uh we have I actually had a second car myself um just from listening to your guys' show I recently went out and got a personal the negative e on it got rid of it as well good great great perfect yep yeah so you called up and said do we have a budgeting problem or an income problem the answer is neither you have a car problem okay thanks for calling man I hope that helps you I hope you go do this stuff because you're otherwise you're going to struggle for an extra five years more than you needed to if you dumped every car in your life got you a couple of hoopties you can be completely debt free in a year a year with $110,000 yeah in making yeah and you're brand new married and you spent the whole year together instead of a part yeah really hard to be aart right after you're married very difficult wow good call man thank you for qu your question open phones atle 88255 225 there are folks um who are forced to be a part like uh we have a good friend whose daughter got married to a um uh a Green Beret and uh 3 months later he was gone for 9 months uh so of their first year of marriage he was gone the last nine months of the first year uh doing things that he can't talk about in places he can't talk about and so um because that's what people like green Beres do um and that's what keeps you people free out there um so thank you we salute you but wow I mean that's a brand new married couple and uh oh my gosh that has options and I think that's the other thing it's kind of like been the theme I feel like of this show is when you have options that's a gift take the option sell the car that's an option right when you're a military family you don't have the option you don't have the option that's her job she knew she knew what she was signing up for she can she can still be a nurse she has an option to still be a nurse where you guys are in West Virginia and sell the car and you guys can move forward on the on the progress so that that's such a gift it's a gift when there's options right if if you don't have the option you know if it's just student loans there's no option to sell anything you know to sell to sell an item you got to pay off the debt right so um see it as a gift Donnie for sure um and you guys oh you can make such quick strides and you're still so in your marriage like do it do it you have plenty of life to go get a Bronco again I can promise you I've been married 43 years and the cars that we were driving when we got married are completely irrelevant in our life today create your free every dollar budget today the simplest way to budget for your life