[MUSIC PLAYING] Brought to you by the EveryDollar app. Start budgeting for free today. Apparently, when I am out on vacation, you guys take calls. And the people commenting and on YouTube don't think I would have given the same advice you give, or something like that. It will happen every now and then. OK, we're going to play the clip. And I'm just so curious if you agree with me or not. My daughter is 22, and she just graduated to college with some student loan debt. And about a year ago, she was able to get on the presale and buy three tickets for her, my older daughter, and myself to go to a Taylor Swift concert in Indianapolis. We got them for like $209 a piece. So now I'm seeing these resale. Oh, it's crazy. Oh, it's crazy. It's insane. Yeah. And so I told her, like, why don't we sell those tickets? And you can knock down so much of your student loan, but you'd be so far ahead. She says, absolutely. It's non-negotiable. It's a bucket list item. She's like probably you, Rachel, a 50. And this is, you know-- And it's her money, right? No, it was my money. Oh, OK. It was my money. I paid for them. But, you know, I mean, this is-- and for me, too, I'm looking at, like, you know, she's iconic. I would love to go to her concert. My daughter of all the people that she could take, she wants to take her sister and me. You know, I mean, that's great. It's going to be a fun thing. What would your take be? What, Rachel, now, walk us through? What do you think you can make on these tickets? I'm thinking I think an average opportunity-- $3, $4,000. A ticket. Easy. But yeah, a per ticket. A per ticket. So her student loan debt is $24,000. I'm sure you're not going to-- And that's what you would want to put the money towards. Absolutely. 100% of it would go to there. Would you be putting $9,000 plus dollars towards her student loan if you hadn't bought these tickets? I would not. I wouldn't resell these tickets. Here's the deal, Jill. You weren't planning to cut a check for $9,500 to put on your daughter's student loan ever. I was not. So my whole point is-- This is like a windfall, right? If $9,500 fell into my lap, I might do that. I get it, but this is your daughter's. It's a once-in-a-lifetime concert. Oh, yeah, I agree. You go, Jill. Go to the concert. You weren't going to do this anyway. And I think your daughter said absolutely no way. And I think it creates an unnecessary tension. She's 22. She needs to pay the thing off herself anyway. There's a lot of reasons. I want her audience to know. I just think when I look at something like this, this is about the emotional, not the financial. Rachel, I fully expected you to be a Swiftie. I'm very disappointed and can. No. [LAUGHTER] Anything you have to do with Disney or Taylor Swift, Rachel is completely on board. [LAUGHTER] I was shocked that Ken was like-- He just jumped in there as a Swiftie. I was so happy about it. And-- Listen, I got to tell you, I'm a huge admirer of what Taylor Swift has built. I'm not a consumer of her music, but that's just because I'm an old guy. But she's an amazing performer, business person. Yeah. What she has built is iconic. Yes, yes. You have to stand back and go wow, regardless. I mean, just we're in the entertainment, the broadcast world, much smaller degree, obviously. And nobody's selling my tickets for $14,000, but yeah. But that's-- OK, show. No, no. And I try to think about things like, we're as hard for me because it would be hard for me personally. Like if I got calls up and he's got a ski boat, OK? Which I love, my Mastercraft ski boats, OK? Mastercraft is the best ski boat. I love them. And telling a guy to sell his Mastercraft to get out of debt is very hard for me. Yes, yes. So for you telling somebody to sell a Taylor Swift concert or avoid a Disney vacation is very hard, right? OK, Disney, I could put up-- This is like a once in a lifetime thing. Oh, whoopsie-dope-d. Wait, here's my key. It's a concert. If you had it-- here's this. If you had it-- By the way, it's a ski boat. I'm putting it in perspective for you, though. If you had a trip booked with Daniel and his son Eli-- because this is what it was for her, her daughter, right? A trip booked and you had planned it out. Daniel had student loans. We can go here for a second. Daniel had student loans. No one said-- and you could sell the trip for three times from what you bought it for. Would you do that and put it towards Daniel's loans? The nuance in the call that does change the answer for me is she gave her daughter a gift of some money, 600 bucks. Of tickets. No, she gave her daughter $600 and the daughter bought the tickets with it. Yeah, four of the tickets, though. She gave her a gift. So she's no longer in control of this. Oh, I hear what you're saying. Yes. So the mom is not in control. The daughter is in control of it. Correct. And she bought tickets. Now, if the daughter called me and said, my mom gave me these tickets, gave me $600 by these tickets, and I can sell them for $12,000, I would ask her, if you had $12,000 sitting in the middle of the table and you didn't have Taylor Swift tickets, would you put it on your student loans or would you put it on the things? And I would tell the daughter to sell the tickets. But I'm not going to tell the mom to renege on a gift. Yes. Yes. OK, that makes sense. Yeah, that's kind of a little arbitrary to that one. That's a control issue. When you give someone a gift and then you try to take it back, that's not a gift. And there's some politically incorrect things we used to call that. OK? That you can't say anymore, and shouldn't. But anyway, taking something back after it's a gift, you shouldn't do that, right? And I would never recommend to someone to do that. Yes, so for the mom-- So the mom is who called you. You tell the mom, I would advise the daughter to sell the tickets, though. Yes, so if it was the different person in the situation, call you. So Daniel called and said-- I'm in debt. And I can buy this for $3,000. No, and I can sell these tickets from a trip that I have planned with my dad and my son, should I? Yes. Yes. Because-- let me just tell-- I mean, what is more important in the scope of the next 50 years of your life? Getting a student loan paid off or going to a Taylor Swift concert? I don't know, the memories are forever. No, they're not. Yeah, they are. I don't remember a lot of the concerts I went to. I went to what? For other reasons, for other reasons, Dave. No, just because it was a long time ago. I can't even tell you that all the concerts I didn't go to. I remember my first concert with Mom and Denise. OK, that's wonderful. Celine Dion. And then you still think about it to this day. Oh, yes. Celine, what a woman. And that's worth how much? Not much. Probably not even what we paid for Celine at that time, because that was a Vegas thing, if I remember. No, no, she came to Nashville. Oh, she was in that. Yeah, this was way back in-- yeah, my heart will go on days. OK, all right. OK, Titanic. I know, OK, but that's what's hard about life. That's what's hard about life is this. There's a trade-off. There's always a trade-off. And you just have to make a value decision. And one way you make decisions is, if I had that amount of money in the middle of the table, if I have $24,000 in student loan debt, and I wake up and there's $12,000 laying in the middle of my kitchen table, do I go buy Taylor Swift concerts or put it on my student loan? You put it on your student loan. That's not-- it's a no-brainer for me. Now, that's talking to the daughter. But I'm never going to tell the mom to go back. So I'm not really going to say your all's advice was wrong. But it's a great discussion, particularly because we get to discover that to my great disappointment, Ken Coleman is a Swiftie. This is the full letdown of the call right here. I'm just saying. So good. I mean, he just jumped right on it. He didn't even let you do it. I know. He's like, you should go. Just go. I couldn't believe it. It's Taylor freaking Swift. You should go. I just love it. It was so great. It was so great. And by the way, by the way, we all are fans of Taylor in one way or another. Rachel is a worshipper of Taylor. Create your free $3 budget today, the simplest way budget for your life.
