Let's kick it off with Zoom with Joel from Ozark, Missouri. All right. Joel? Hey, Joel.
Hey, Joel. How are you doing? We can see you here, too, which is perfect. What's your question for us?
Awesome. So my question, my wife and I, we're different intensity levels as far as our process of becoming debt-free. I'm more like on Trash Day watching the neighbors to see if they set a $10 lamp out on the curb I can talk on Facebook. She's more like, hey, let's try to take a nice trip with the girls.
So what my question is, how can we kind of bridge that gap between our intensity levels to find common ground? For sure. I have a question, Joel, for you. You guys working your way out of debt?
We're like at the finish line with the accept, too. So we're getting ready to cross into three, four, and five and we're still fired up and we're on the same page as far as wanting to be debt-free as quick as possible. So there's at least that positive we're on the same page, but just like I said, we're just different intensity levels. We probably need to tone it down a little bit.
I don't know. I think you're both doing fine. Larry Burkett, you should say, Joel, two people just a lot get married, one of you's unnecessary. So it's good that opposites a trap.
I was going to say, I think that there's- I think that there's- I think that there's- One would be fired up and the other would be in chill. That's good. You Joel, that's out on the street looking for a lamp in the trap. That's so great.
Here's what we can do. And then there's always going to be the one that just says, that's not my thing, right? So again, I think that that is so normal. That is so common, Joel.
And I think the biggest thing is that your value is a line. The ultimate goal of where you guys are going, the direction of which you are going is consistent and it's together as a team. And I think that is far and beyond, number one for me. Yeah, as long as you're aligned, as long as you're both have agreed, this is the goal and I'm going to go at it more intensely than you are.
That's okay. I'm not going to do anything. Good luck with that. That's not okay.
That's a different problem. Now we've got a marriage thing going on. Absolutely. Yes.
And for Joel, I don't think that's it necessarily. No, I think he's described, you guys are on the same page. It's just he's the guy with the lamp and she's like, yeah, we'll show a little bit. I'm a little sick of Ramsey stuff right now.
That's right. Well, the way the baby steps are, it actually is great that you guys are the way you are because Joel, for you early on, baby steps one, two and three, you need that intensity. You need that person to remind the other spouse of it. This is what we need to be in order to get these first three done.
Whereas your wife, she'll probably shine more and baby steps four, five and six because you do get to kind of ease off the gas and just like enjoy life. You know what, that's an interesting thing because some people are marathoners and some are sprinters. That's right. And so the sprinter always does well.
That's the intensity and intensity in the first three steps. That's me. And then my wife, Sharon, she's like, we're just going to keep at this. She's the tortoise that wins the race.
Beats the hair every time. Yeah. And I think the relational aspect, I love your question because we get calls a lot on the Ramsey show in terms of this idea with relationships and money. And I think it's always a bit of a thing.
I feel like this is how Winston I've experienced it and probably you guys with your spouses. But I know for me, I've learned to still appreciate the strengths that he brings because he's probably more you Joel and I'm probably more your wife honestly. And I'm like, yeah, to enjoy life. That's what I do.
I allow us to have fun and have a life. But Winston, you know, make sure that we were not broken, that I don't spend everything. So, but again, I think there's that element of embracing your differences and finding the respect of what your spouse brings to the table. Like that creates beautiful conversation.
It's very, very important though that the ultimate goal is agreed on. That's right. And we're both driving to that. And that sheds off all the 90% of all the disagreements.
Yes. So great. Thank you, Joel. Thanks for your question.
So appreciate it. All right. We have a question from social, which is fun at Cal Loon 1994. My significant other night aren't married yet.
Should we have joint bank accounts? I'm going to say immediately no. You should not have joint bank accounts if you're not married, right? That should not happen until after you've said I do.
And then once you say I do 100% combine your money. I mean, we talk about it all the time. You go further, faster, together. I love it.
So great. All right. Up next, we have another Zoom call, which is so great. We have arts from Nashville right here in Nashville, Tennessee.
Hi, arts. How are you? Welcome. Welcome.
What's your question for us? Yeah, I'm a real estate agent here in Nashville. And I live in a world where it's pretty uncertain where my income's coming a lot of times. It's not as consistent as I'd like it to be.
It's ebbs and flows quite a bit based on the market. And so that can be a challenge. Just curious, how would I look at budgeting knowing that that's the kind of income that I've got and lifestyle I've chosen for myself? Yeah.
Art, tell us, has there been a zero dollar month? What's a normal month for you? What's a low month or a high month? Yeah.
Typically, I sell one to two homes a month. Last year I sold 18 homes. So you're talking about between 10 and $15,000 a month. But then there can be two months where I don't make anything, right?
Like there can be the winter time is oftentimes a little bit slower than the spring or the summer. So that's kind of... That's a real problem. A lot of people, regular income, commission, sales, season, whatever it is.
So what you're going to do when you open up your every dollar budget is look at it like a prioritized spending plan. So you know you've got to cover the four walls. If we only make this much, we cover the four walls, nothing else gets paid. If we make more than that, we can start to go to the next priority, whether that's debt payoff, savings, the luxuries, the subscriptions, whatever it is.
And if you do have a zero dollar month, you can look at this like a peaks and valleys fund where you set aside some of that money knowing you've got to cover those zero dollar months in the winter time. And that'll help you avoid the freak out mode. Am I going to get money this next month? And so getting out of baby step two and three really helps because then you have more cushion as well.
I learned to do that peaks and valleys fund when I was doing real estate. I was first discovered these things. I got broken in real estate business. I was back doing real estate again.
I had some zero months and I might have 20,000 bucks the next month. I mean, and that was real. So the peaks and valleys fund what I want to point out is different than the emergency fund. This is...
I have a $20,000 month and I might have zero next month. So I'm not putting all of that in the budget. I'm just going to slide 5k over here to cover the house and the water and the lights and the food in case I have a zero month. And that's different than an emergency fund.
Emergency funds only for emergencies. This is just cash planning. It's a different thing. So you got two different accounts here when you're running that.
And this is only for those of you that have extreme volatile income and extreme would mean you have a zero month. Most people that have a volatile income don't have zero months. Now in real estate business that's one where you would. But most of the time you'll have my worst month is 4000.
Well, you can cover most of your stuff. My best month is 14,000 or whatever. That kind of stuff. So you can cover it.
All you got to do then is force rank the difference then like Georgia is saying in every dollar you don't need the peaks and valley there. If you don't... If you're low average will cover your nut, that's what you run with. But if you got a zero low average like you do, you've got to have that separate peaks and valleys fund to cover that.
Okay, congratulations. And I'll say for your wife probably having a completely separate account beyond the emergency fund what they was saying. For me, I know I like to see a completely different account. Okay, here's some money.
So if we do have a lower month, this is being pulled from the emergency fund and it's so visually easy to see. There's something that gives me a lot of peace in that. Maybe your wife as well, I don't know. But just knowing that you're planning out ahead I think is really important.
Does she work? She's a photographer. She's self-employed. Okay, does she have what's her low month?
She probably does about a thousand bucks a month on average. Okay. All right. So you still probably can't cover everything.
She's only going to count. Okay. And if she might have five dollars a month and this whole conversation just changed back again. It's been really helpful is we have a feature in every dollar called Paycheck Planning on that premium side and we'll send you that bundle art to help you with that.
And that Paycheck Planning tool is a game changer. So it'll show you based on how much income you have, how much expenses you have, when you're going to run out of money and you can start moving bills around, calling, switching it online so that you don't run out of money. It gives you that really clear visual. I know, I didn't know we could do that.
I should give her. She's generous. Got it on. Thanks guys.
All right, thank you. Thanks for your question.