This is the Ramsey Call of the Day part of the Ramsey Network. Let's go to Craig in Pittsburgh, Pennsylvania. Craig. How can we help?
Hey there guys? Thanks for taking my call. I appreciate it. You bet.
I do. I do. I do. I do.
I do a lot of people so My question is prone to my life. I'm going to go now and be at 4.5 and 6 and Part of that is one of our daughters of freshman college who were helping cash flow that but our questions we're coming to come back to the Money into the house we have three vehicles that are a little bit older because they don't want to operate like they don't that My wife is thinking maybe we should start putting somebody into a fund aside to say for cars or they might just keep tackling the house But I guess the question is like I should figure out at this point Which is you know, I never got a way to answer but what direction to go? Well, I'm gonna jump in first because this is non financial advice I'll let my my co-host the financial expert way, but I'm gonna weigh in as a dude who's been married 24 and a half years You've got the money you have the income and the discipline when mama says that she wants to open up a fund to replace her car You need to go. Okay, sweetheart.
We're gonna start that I'll have a new budget to you in the morning if you if you want to crack keep driving an older car and just pile money That's that's your call. Well, I think I start funding a new car for your wife That's the see I told you it wasn't financial advice. I've got to make that work Rachel Relational first pal that's what I'm looking out for you right now Well, I'll say Craig I mean you don't have to replace all three cars at the exact same time so find the one that's either just needed That's either one that's what I was gonna give an A or B option the one that is needed or Or hard And just you guys run any numbers She's the one that asks obviously I know we're kind of joking with her But does she know what she wants? Like you guys have you run any numbers of like the type of cars?
You want or anything? Hey, can you hear Craig, can you move your phone a little bit? We're coming in now. Sorry.
All right, let's keep going Yeah, so the third car is the daughter's beater that she's using college They've mentioned that the plan is work for inter Only I think you need to buy her a car Does it not work on a normal level I couldn't have been clearer. So no for real though on a tactical level. I would say okay. Yeah, 15,000 for your wife's car daughter with the Bad frame beater.
She can hold off for six eight months. Yeah, she's in like a real college. These kids, man These kids what do you expect? Oh my gosh Craig, I'm here for you.
Okay, so so yeah I was okay 15,000 if that's what it is figure out how much you can sell hers for Kelly blue book it figure out the difference And then you create a sinking funds and then every month still putting a little bit of extra towards the house But slow the house down then say okay. How many months do we have to save up to get that whatever the difference is? Let's say it's eight grand. I don't know what it would be well.
Can't reverse. So you're not get a lot of money for her car I don't know, but just to say okay figure out the map have a game plan have a sinking fund Which means in the budget for from this month on Craig October There however long it's gonna take you guys to say put some money aside for her car and then we can you can check out the daughter's car after that But that's what I would do, but you're still putting extra towards the house You're gonna just slow down he wants to go full fledged house I love it, but I would pull back on the house I'm still add some extra money towards the mortgage So you're still putting extra towards the house But pull back a little bit to save up and get your wife a car if he doesn't get her a car He's gonna be sleeping outside of this house. He wants to pay off so badly I'm just telling you I'm just here for you Craig. You're a good guy You're crushing it.
I love the gazelle intensity your wife's gonna love us. Oh, I know I know this con thing I somebody should send her the link to that. I'm gonna be her favorite host ever Thanks for tuning in to the Ramsey call of the day to check out all of our podcast just search Ramsey Network on Apple Podcast Spotify Or wherever you listen