Facts Are Your Friends...Not Feelings
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What financial situation does the first caller (Nick) describe?
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Normal is broke and common sense is weird. So we're here to help you transform your life. From the Ramsey Network and the Fairwinds Credit Union studio, this is the Ramsey Show. I'm Dave Ramsey, your host, Jade Washall. Ramsey Personality, number one best-selling author, is my co-host today. The phone number is 888-825-5225. The call is free, and some say the advice is worth it. Exactly what you pay for it. Nick is with us in Philadelphia. Hi Nick, what's up? Hey Dave, I'm just uh I have a couple questions
concerning how to get out of debt. Okay. Um So I am a sanitation worker. I make roughly Seventy five uh thousand a year. I just got married uh about two months ago. Congratulations. Thank you. Our combined is She makes anywhere from twenty to twenty five, so close to around ninety five thousand.
Okay.
Um I am currently in Forty one thousand dollars in debt. Across personal loans, uh credit cards and a car loan.
Okay. How much of it's how much of its car?
Uh car I'm halfway pay off my car. It's about fifteen fifteen and a half almost.
Okay. And what's the rest of it again?
Um twenty one of it is personal loans and five of it is credit card.
Okay. What kind of personal loans? Just at the bank?
Um so When we got when she got pregnant a couple of years ago, it was a really quick thing. We had to move out quickly and I had to cover the uh maternity leave and all that stuff. So I took out a quick little six random so I could be secure after we moved into our apartment and just have the money to f help her. And then I just what I started doing is I just started racking up personal loans because I was stupid with my money. Okay. And would get in credit card debt and need to take out another one, another one. And then the last then I took out one uh to get her engagement range.
So what happened the other day that stopped you for and you said, I gotta call Dave and Jade and we gotta change. What happened?
I just um Living paycheck to paycheck and if something ain't working.
Yeah
and it doesn't make sense to me. I this should not be happening.
You're a good man. You're a good man. Thank you for calling. You are why we're here, brother. Okay. So um hm. How old is the baby now? Two? She'll be two on Friday. So what does your wife do and why does she not work full time?
Um She works four days a week. She um she is a uh makes a dollar an hour.
Wow. Yeah, that's a lot of time working and not a whole lot of money being made. What's what's the type of work?
She's a dog trainer.
How do Dave and Jade break down Nick’s income vs. out‑go and start a budgeting plan?
She makes It's a based on commission she can make anywhere between twenty to twenty five.
She's not working as much as you said.
Mm-hmm. I almost wonder if she could dog train on her own and make more money and set her own clients and set her own pay.
Yeah. I mean I'm I'm also looking to get back into I also I don't know. Tax services. Uh I am a delivery driver so I work on get cash under the books, although I haven't been doing that for the past two months because I had uh like issues in the The summertime slowed up so they uh let me go for the couple of months.
Why are they paying you off the books? Why can't you have a job where you're paid above board?
Uh I don't I don't know any pizza shop I've ever delivered that. They've always paid onto the books.
Okay. All right. Um all right. So here one one part of the equation, the reason we're poking at that, is the income part. The other part is the outgo part. Okay? So we're gonna we're gonna get up above this problem because what happens is when you get down in the weeds, you you get lost. And it becomes overwhelming and really, really scary and that and chaotic. And that's kind of the way you were feeling right before you called us. So what I want to do is I want to get in the drone and I want to get up above the weeds. I want to get up above the situation and say, okay, there's two parts income and outgo. You and your wife sit down tonight and start talking seriously about what we can do to add to your good $75,000 job that is.
reasonable with a two-year-old in the house.
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Chapters
8 chapters
1
What financial situation does the first caller (Nick) describe?
0:05–3:13
2
How do Dave and Jade break down Nick’s income vs. out‑go and start a budgeting plan?
3:13–7:30
3
What should Nick do with a wedding‑gift cash amount – use it for the wedding or pay down debt?
7:30–15:30
4
How does the show transition to other callers’ questions about family planning and debt?
15:30–1:05:03
5
Should I include my $9,000 student loan in the debt snowball or keep the employer match?
1:05:03–1:27:05
6
What’s the best way to handle mold remediation and finish the kitchen remodel on a tight budget?
1:27:05–1:48:24
7
Is it better to pay off an $81,000 mortgage now or keep the cash for other priorities?
1:48:24–2:04:00
8
How can I manage a pending job loss, 401(k) rollover, and debt repayment at the same time?
2:04:00–2:08:05