Livia, Mark, Olivia discussed on Dave Ramsey

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It. Right. So you're gonna take a weapon. What will it take money wise to finish it? What never had a professional answer on that? But probably about eight thousand ten thousand dollars. Yeah. And what is your household income? Well, my husband he worked forty hours a week. What's your household income? Thirty seven thousand a year. Okay. So your husband is the only one working. Well, we have a business that doesn't make running. It doesn't make money. His income is about twenty seven thousand in the business makes about fifteen thousand yearly. Okay. Caretaking position. We'll be making about forty eight hundred cash, but we get housing for free. Yeah. I got that part until you get until he decides he doesn't want you to caretake anymore, and then you don't have housing for free anymore. That's right. So I mean, he could walk in tomorrow and fire you. Pretty much. I changed my mind. And then you you have a housing issue again. So you have any idea what the house you have sort of built would bring as it is. Well, we had a appraisal. And if it were completed it would be about one hundred and sixty thousand it's Mark completed so probably one hundred and fifty hundred and forty five. No, no, not if it's not completed it won't know because it's a further discount than the cost to takes to complete it. It's a lot further discount because basically the typical consumer cannot buy this house. Okay. Because they don't have any money, and they're trying to get a mortgage, and they can't get a mortgage on this house. And so that limits your in that limits, your selling pool to investors, and they're going to discount that a lot deeper than that. If you get one hundred out of this should be flying. I'm thinking. So. How much have you borrowed against it? So far. The house itself we owe thirty thousand but there some property attached to it so altogether one hundred thousand. You owe one hundred thousand against the house and the property which would bring a hundred and sixty if it were fixed if you sold the property as well. Yes. Okay. Yeah. I would look at trying to pick up the other ten thousand dollars in an additional loan and get this house finished. And let's get it sold as soon as possible. And then just. Are you saving money until we? Yeah. Yeah. What are you have you know, you should have some equity in your pocket at that point? I mean, not a ton. But you're gonna get a little money out of it. So. This hasn't worked out for you. You realize that right? You've got way too many hours in this house and really didn't get much out of it. When all the smoke clears here, right? Right. You'll get a little bit. But it's not it's not worked out. Very good. So you know, you're going to have to reset that. And then the second thing I'm going to tell you guys need to look at your incomes because your household income has you very very low income. And so I want to think about careers. What can we do to get our income up long-term? And I want to think about some part time jobs in the meantime, but yeah, I would get that house finished up saving scratching clawing painting. And. You know, if you borrow three thousand bucks or something that's fine. But let's see let's get it sold as fast as possible. Now, if the land is such that you can sell off a piece of the land without selling the house in order to have the money to finish the house. That's what I would do. I. Sean acre off the corner use that money to finish the house, then get the house sold and that way, there's no more debt involved. Olivia is with us in Lexington. Livia? How are you? How are you better than I deserve? What's up? I'd have had a question, and I had a significant amount of debt and I'm wanting to pay that off. But I'm also in recovery for. And part of that is going to therapy. So. I use your regular income planning to budget. And if I put their PF the, and it's most likely not going to get paid and some kind of. Quit that I'm not really sure way to put it in the budget or how big of a priority to make it. How long you been clean? Seventy five days. Good for you. Well done what is it sex addiction and an eating disorder. Okay. All right. Well, no, I'm not gonna put therapy on hold right now. This is something you need you need some accounts Lord to walk with you as you finish this life transformation. And that that is a central to you having a life. Would you agree with that statement? Now what I would do is this number one. It's not a permanent situation the therapies not permanent. It's not gonna be there. The rest of your life fifty years from now, you're not gonna still be going to that therapists. Okay. I hope and then otherwise therapist is not very good. But so at some point you'll you'll pull back from that. And the second thing will happen is as you continue to address your income and your out go, you're gonna find ways to make more income, and as you have more emotional healing. You're gonna feel more energized to make more income. And so if this month, you don't pay any extra on the debt, but you pay your therapy good. If next month the same thing happens, okay? But by this time next year, we ought to be making some more money, right? Let's do something. Let's kick our life in gear, and let's start to clean up the debt mess too. But for today seventy five whole days, you've been clean. That's a great start. But it's not like you told me you've been clean for two years by the time. You're calling for two years. We ought to be have different having a different conversation about the money. Would that make sense to you? So let's get you healed. And then let's see your money. Okay. And as you go, and it's not going to be a suddenly like a switch, flips and you go. Okay. I'm okay now getting the money now, it's not all or nothing. It's going to be gradual. It'll be incremental. You'll feel better you'll you know, when you're ninety days or your four months, you ought to feel different than you feel right now, and you ought to be able to do more and make more and save more and cut more and you'll have more focus on the money because you'll be more healed and have to spend less of your emotional energy. Just coming through this right now your game on just getting through this is that right? Okay. Well, I want you to finish turning the corner. You've turned the corner would you finish turn the corner.

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