Master Your Finances

Tips for Saving Money on Food and Managing Extra Income

The Ramsey Show aims to help people build wealth, find fulfilling work, and create meaningful relationships.
Inflation has made saving money on food a key concern for many people.
The host of the show, Rachel Cruz, asks callers for their money-saving hacks for buying food, whether grocery shopping or eating out.
Ricky from Phoenix calls in and shares that he and his family are currently using food stamps to supplement their income.
Ricky's husband received a settlement check for $75,000, and they want to buy a house but can't afford it with their income.
Rachel advises them to take Financial Peace University together and work on getting out of debt, building an emergency fund, and then saving up for a down payment on a home that they can afford with their income.
Rachel suggests putting the $75,000 in a high-yield savings account or money market account if they plan to buy a home in the next five years.
Deborah from Orlando calls in and shares her money-saving hack of using a meat subscription box to stretch her food budget.
Deborah is starting a surrogacy journey and will be receiving extra income, but she's not sure if she should incorporate it into her budget or treat it as a bonus.
Rachel asks about Deborah's financial situation and advises her to view the surrogacy income as a bonus and use it to pay off debt or build her emergency fund.
Rachel suggests that Deborah should consider increasing her income by finding a side hustle or a higher-paying job to help her reach her financial goals faster.
The Ramsey Show encourages listeners to share the show with others and leave reviews to help more people take control of their money and find peace in their lives.The Ramsey Show: Financial Advice for Uncertain Times
The host of the show discusses the idea of surrogacy as a way to give back to others financially, and encourages the caller to use the extra money to pay off debt.
A caller asks for grocery and food savings hacks, and the host suggests buying in bulk for your household size and looking at the price per ounce.
Another caller asks for advice on whether to pay off student loans or a vehicle loan first, and the host suggests paying off the smallest debt first regardless of interest rate and recommends paying off the student loan before the vehicle loan.
The host mentions that most of the Ramsey team is out of town for a Building Wealth event in Southern California.
The host interviews fellow Ramsey personality Ken Coleman, who is at the Building Wealth event, and they discuss the potential for a recession and how it could affect jobs and income.
Ken Coleman recommends cutting unnecessary expenses, paying off debt, and increasing income through part-time jobs, side hustles, and freelancing to be recession-proof.
The host and Ken Coleman discuss how the job market has changed, with more opportunities for non-traditional jobs and side hustles that pay well.
Ken Coleman emphasizes that all work is honorable and that it's important to put your ego aside and do what you need to do to achieve financial peace and be recession-proof.
The host and Ken Coleman discuss examples of side hustles, such as personal driving, nannying, freelancing, and tutoring, that pay well and can help you achieve financial goals.
The host and Ken Coleman recommend being proactive and having a plan in case of layoffs or uncertain economic times.
The host mentions that the Federal Reserve is expected to raise interest rates again, but that the impact on the economy and job market is uncertain.
The host and Ken Coleman encourage listeners to focus on what they can control, such as their own financial habits and goals, and to not be discouraged by uncertain times.Rachel Cruz hosts the Ramsey Show discussing debt consolidation and real estate
Rachel Cruz hosts the Ramsey Show solo as the team is out in California for the Building Wealth event
Ken Coleman, one of the Ramsey personalities, calls in to discuss focusing on personal finances amidst scary headlines and economic uncertainty
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Nathan from Indianapolis calls in asking for advice on consolidating his wife's student loan debt with a variable interest rate climbing at 0.25% per month
Rachel advises caution with debt consolidation and reminds listeners that it does not fix the underlying behavior causing the debt
Rachel suggests increasing income and maintaining intensity towards debt repayment as the solution to the debt problem
Rachel discusses the myth of easy passive income with real estate investments and the correlation between COVID-19 and the desire for quick money
Rachel's husband, Winston, joins the show to discuss the reality of real estate investments and the hard work and headache required to achieve passive income
Winston debunks the idea of easy passive income and emphasizes the importance of hard work and perseverance
Winston advises against investing in real estate without proper education and preparation
Rachel and Winston encourage listeners to prioritize financial education and intentionality in their personal financesReal Estate Investing: Debunking the Myths and Risks
Real estate investing requires a significant amount of work and time commitment.
It is not an immediate goal that will provide passive income without effort.
Finding a good deal is one of the toughest parts of real estate investing.
Building relationships with brokers and title companies is crucial for success.
Real estate investing is a risky financial decision that should be a part of your overall financial picture.
The idea of real estate investing being a passive income source is a myth that needs debunking.
It takes a lot of effort to find a good deal and manage tenants, maintenance, and rent.
Only one out of every 30 offers usually results in a contract, even during a recession.
All-cash purchases are encouraged, and starting small is recommended.
Rental income is not always guaranteed, and expenses can eat into profits.
Long-term investment in real estate can be rewarding, but it is not an easy or risk-free game.
Real estate investing can be an efficient way to generate monthly income and build wealth, but it should be done smartly and with the right knowledge.