I Can’t Make My Debt Payments!

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[@markburnham7512]

Too many have bought into the mindset of "If I can afford the payments, I can buy it."

[@TonyCox1351]

And the problem is people only look at each INDIVIDUAL minimum payment. They buy ten things with a $100 minimum payment…whoops now it’s $1000 a month to service my debt.

[@tristan2332]

If it requires payments outside house...you really can't afford it.

[@alycewich4472]

And with vehicles, if you buy them on credit, you also have to carry insurance, which in my ONE case that I did so, was almost equal to the car payments. So If the car payment is $500, I'm guessing that the car insurance is very close to that amount. So your $500 car payment is really a $1,000 payment. This is something I've tried to tell others over and over again, but very seldom do they listen. As the daughter of a mechanic, I drive my vehicles til the wheels fall off. I've only bought the one new car and it got into an accident with a Jeep. Jeep vs Toyota, Jeep wins. Frame got bent, so it was totaled, only had 90,000 miles on it too. So I found another RAV4, 120,000 miles on it and it cost more than my RAV was appraised for. But this one will most likely be my last one. I've had it for over 5 years and only added 20,000 miles to it. And I will keep it until the wheels fall off. Or until another Jeep finds me! 🤣😂🤣

[@Polo22546]

YUP!!!

[@Daveandconfused.]

So true

[@hankwells2637]

“Yeah we bought a house 4 years ago” “it all started going down hill 4 years ago” bro bought way too much house.

[@daveavemian5940]

@hankwells2637 dude you have no idea what the mortgage market is like. 2700 payment on a house bought last few years is a cheap house. Prices are insane, insane rates are insane

[@matthewholliman1399]

@@daveavemian5940Just because houses are more expensive doesn’t mean it isn’t stupid to spend that much of your income on a house. There are still 200-250k houses available if people would accept driving a bit further.

[@hankwells2637]

@@daveavemian5940 dude cant afford his house, its simple math.

[@daveavemian5940]

@@matthewholliman1399 250k houses that fit 4 people? are you smoking crack? what about the 50k those houses need to tear up the inside because they're very old? Even 250k houses at 8% interest is about a 2300 payment. That's not a big life saver. Cheap mortgages don't exist anymore

[@artbigotti2640]

@@daveavemian5940 then he needs to rent. Or move somewhere cheaper. Or both. The math ain’t mathin’ for him to afford this house.

[@ga6257]

80 k isn't a bad income, but the two cars and the house is where ALL of their income is going.

[@DaddyMaverik]

They’re trying to figure out where his money is going? Brother!! Out of his $5,000/month he’s spending more than $3500 on it in just housing and cars. With 4 people in the house, they’re probably pushing around $700 in groceries these days if not more depending on where they live.

[@NickPlays95]

Shoot my wife and I spend $800 a month on groceries and about $200 eating out for just two of us.

[@Blittsplitt5]

​@@NickPlays95what a waste

[@NickPlays95]

@@Blittsplitt5 not really. We eat very healthy, all organic, grass fed grass finished meats, etc. we use to spend so much more eating out and now our health is 10x better and we feel better than ever so it’s worth it to us to spend 10% of our income on healthy, nourishing food

[@5trace]

@@NickPlays95 Yep in Ontario wee are spending 1400 per month

[@palady1486]

This caller needs help...these 2 guys did not give him the help that he called for...couldn't you hear the desparation/fear in his voice? They both kept talking AT him at the same time. Too many comments at the same time telling/asking things. I'm sure at the end of the call he is not going to remember. So they are going to send him a book to read. Get real! This man needs help now, not a book to read or he wouldn't of called them.

[@nibekus]

There is only so much you can go over in a 8 minute span on the phone. He definitely needs a financial coach and help navigate him to a solution to his financial burden.

[@Overbuilt.Gaming]

The guy didn't even know all of his debts. I bet he doesn't even look at the bank statements and has no idea where the money has gone. This guy needs every dollar, financial peace university and the total money make over book. He said he only brought home 5000 on an 88k income, it should be closer to 6200. I bet he's filing 0 on his w4 where he needs to be filing 3 since he's head of household. He's got 2700 in a mortgage and 1100 in car payments. This is why Ramsey tells you that your house payment to be no more than 25% of your TAKE HOME PAY per month. This ratio for his home alone is 54%.

[@ilovefefi]

@@Overbuilt.Gaminghe needs to go through Financial Peace University

[@Thedogshousegarden]

To be fair, I think George wanted to go through it more, but if he doesn't know the numbers.... Perhaps a follow up call where he faces the actual size of the debt and work from there, would be a good idea.

[@desimo147]

Show me a broke person, and I'll show you car payments. The two go together like peanut butter and jelly.

[@reese85]

So rich ppl or ppl with money don’t have car payments?

[@mhodge0890]

Why have car payments if you’re rich? By that ish full cash and keep investing and running up that bag

[@smart127]

Or like Hostess and kids!

[@desimo147]

@@reese85 - never had a car payment, even when I was poor. Paid cash even back then. The only money I had to invest at the beginning would have been consumed by car payments. It's literally the difference between being rich and staying broke. Very few realize this though.

[@reese85]

@desimo147 but as I said in general. Rich ppl or ppl with money don’t have car payments cuz that’s just false.

[@robloxvids2233]

36k in car debt and a 2700 mortgage making 80k for a family of 4. Man, you and your wife need to get REAL. Do you want to be working until you're 85?

[@lot2196]

I couldn't even imagine that. Wow.

[@kbanghart]

​@@lot2196yeah, me and my wife solved it by having an in home daycare. Then later we adopted 2 kids.

[@tubenachos]

Keeping up with the Joneses syndrome imho

[@dougprentice1363]

I think he said 88. But still. They need to dow size.

[@raymond_sycamore]

Sounds just like everyone I see driving around

[@kendrapratt2098]

He keeps ‘finding himself’ in situations

[@JonathanIvy221]

That’s pretty much every Americans. They all find themselves in situations until it blows up 😂.

[@webfreakz]

Yup, tripped... slipped... landed himself in debt on a water softener!

[@eggsinsideme]

This was such a layup, not sure what the hosts don’t understand. 5k in every month with a 2700 mortgage and 1k in car payments. That leaves only 1300 for absolutely everything else. They’re broke. Sell the house, pay off their “cheap cars,” then rent and save up for a home they can actually afford.

[@HPM619]

Curious, does Ramsey even advise anyone to rent anymore? I thought he was super bullish on housing.

[@lindsays8938]

Rent is ridiculous also right now in most states. Not much to save

[@ThejeffJr8]

Rent is damn near the same price and for a family of four? They’d have to move to the sticks

[@JasonGroom]

You don't get where his money is going? Seriously? He is spending 69% of it on housing and cars before he buys any food, or pays any other bills. His house needs to be sold, in this case it is not a last ditch effort, it is the first and only solution, he is just lucky he should have equity in it to pay the other bills. Even if he didn't, he would still sell that house to get out of it.

[@Westcoastguy]

Agree he should sell the home. I think he said he should have 100k equity. The problem now is who is buying? With these high interest rates he may have to lower his home price just to sell.

[@shionajoseph3248]

@@Westcoastguythere’s ton of buyers, low inventory

[@allisonautrey2136]

Can he just sell the cars?

[@B.johnson36]

I did the same thing it's impaulsive buying

[@Westcoastguy]

@@shionajoseph3248 Perhaps, but last month was the lowest number of home sales in quite a while.

[@AlexPerazaTV]

Dave would have been very clear: SELL THE HOUSE. John Delony and George Kamel are nothing close to RAMSEY.

[@artbigotti2640]

@@AlexPerazaTV thank you!! It’s bizarre that they kept offering other solutions like getting out of the cars by saving cash paying for the amount he’s upside down. Ummmm, he clearly stated he can’t even pay minimums. How’s he saving cash? That house payment was the missing puzzle piece and they just breezed right past it like it was nothing.

[@cynthiaborden4209]

I think these 2 need to take the Ramsey course again😊

[@j_mars_cars]

Yall complain about Dave being too harsh, then complain when people are more kind and thoughtful trying to find other options. Cmon lol

[@shea455]

1100/mo in car debt, 2700 mortgage, 4500 after taxes assuming no 401k leaves 800/month for food, utilities, gasoline, insurance, and house maintenance. The house is too much, and the cars are too much.

[@jet4415]

If he works for government there is usually a mandatory deduction for retirement. In SC they took 9% out of the paycheck.

[@businessacc179]

The mortgage is way too much. That’s Ramsey 101. He said he bought the house 4 yrs ago, he said it all went downhill 4 hrs ago. Bad job George and John on this one.

[@hellothereyouall]

Agreed. He bought too much house. Now the HOA fees have piled up too.

[@lombardo141]

I don’t understand. He said selling house was last resort.

[@businessacc179]

@@lombardo141 George gave bad advice by saying that. Ramsey says house mortgage + hoa should never be more than 25% of take home pay. His is like 60%.

[@raymond_sycamore]

Bad job George and John on every one of

[@kidamere2408]

@@businessacc179 its orlando if hes staying for his job he will be very hard pressed to rent cheaper then that sadly orlando top 3 most expensive cities in the US

[@Westcoastguy]

The good ole "Living beyond their means". It was preventable.

[@danielrn133]

Yeah and not everyone is perfect like you. Even Dave wasn't perfect like you. That is why he is calling to try to figure this out.

[@Westcoastguy]

@@danielrn133 Who said I was perfect? Do you always get triggered when somebody points out what not to do? It's called constructive criticism.

[@bigbubba4314]

@@danielrn133sheesh, talk about an over reaction….

[@elizabethpieters7798]

​@@danielrn133you dont have to be perfect to live within your means. You just have to use commonsense. It's not rocket science.

[@markg999]

​@elizabethpieters7798 Common sense is in short supply when it comes to personal finance.

[@Bridin84]

This here is what we will hear more of in 2025 and as more houses come back to the market and lower prices over time. A lot of folks are getting HAMMERED by inflation and overspending. They purchased homes and cars that they can't truly afford. Suckered in by fomo and/or a quick buck.

[@riku3716]

Did I miss it or did they NEVER even mention wife working or needing to work? They told him to get overtime or side hustle but didn't even ask if wife has any work.

[@jimmymcgill6778]

The wife needs a job. Why are they so afraid of saying people wives needs to work. But then you have a single 86 year old woman, and George tells her to get a job. But when it comes to a married couple, they never tell the wife to get a job.

[@Chet_24]

They simp pretty hard for wives around here

[@johnsmom3532]

George will never live that down 😂

[@abundantlife8396]

I could not believe that one! Poor George…poor 86 year old! I’ve had more friends come to me to say they are getting only $800 per mo SS… but never worked full time. 🤷🏻‍♀️

[@godsdozer]

because every man on this show is a simp

[@jet4415]

They don’t tell married women to get a job because they are evangelical Christians and they really don’t want women to become educated or use birth control, just babies and husband support.

[@ourownbeautiful423]

Both partners need to sit down and talk. He didn’t say if his wife works or not. Teamwork makes the dream work sometimes

[@djpuplex]

She's probably got one foot out the door. Women don't stick around for this.

[@stewarthoi]

He said something like “I have a wife at home”, so probably a stay at home wife/mom

[@Youyubeuser]

Yeah if he paid the whole morgage this is usually the case, if not he would pay half and be dept free in record time!

[@djpuplex]

@@Youyubeuser You but the parents/husband/new boyfriend will pay monthly on this debt. Also child support for multiple kids in 30% that's if the court is fair and split the debt down the middle 50/50. They don't always especially if he struggles with the 30% for child support and who knows if she doesn't work he'll get hit with spousal support. A coworker of mines son in Orlando is going through something similar.

[@canton444]

Sounds like the wife is a stay at home with the 2 kids. 34 years old so I assume young ones. M-F job on salary is hard to make any extra income. Either wifey gets a weekend job or he gets a 2nd job.

[@rustykatt3870]

What I see in this situation---> If Danny and family are going to be evicted from their home...aka foreclosed on....they need to sell it. Use the $ to pay off all the debts. Having a loan on a car that they can't afford to get road ready, is scary. Deeper cuts are needed. Scary. Good luck to Danny, his family, and us all! 🌻🤗

[@bettysmith4527]

WOW, I live by myself and have no debt other than my house, my mortgage is 1700 a month including taxes, and I make 90-95K a year and couldn't not even imagine paying what he is paying in monthly debt! John kept saying "I don't know where it's all going". He is paying at least 3700 just between his home and cars, not to mention feeding his family and other credit car bills and HOA. Yikes! Time for his wife to get a job!

[@IsabellaRoss-hl6qd]

My family is in a different situation. It’s really hard mentally. Stay strong friend! It will be a long hard road but we will beat this!!

[@artbigotti2640]

I love the DR show, but this call was rubbish. Why are they acting so confused about where his money is going after he tells them his mortgage payment? He’s house poor! Why not encourage him to sell the house?? As a long-time fan of the Dave Ramsey show and philosophy, this was painful to watch, guys.

[@godsdozer]

Their writers for this reality tv show have lost new ideas.

[@stewarthoi]

Selling his house is certainly one of the reasonable solutions. However, I think the caller's big issue is not being totally honest with others and probably with himself. He referred to his new fence and water softening system as "investments". He initially said he owed $15k on each of his cars, then a couple minutes later he changed that to $16k-18k. With a take home pay of $5k-5.5k per month, a mortgage of $2.7k, a $50k debt, and I'm assuming not much childcare cost since his wife stays home, his situation is not great but shouldn't be that dire. I have a feeling there are other significant expenses he didn't reveal on the show.

[@AlexPerazaTV]

100% agree

[@xsgtxbigboy1655]

Right 2700 mortgage and two car payments what’s so hard to get

[@JarettHerder]

@@artbigotti2640 I think part of the issue was he said he had 55k in debt but he obviously wasn’t included his house which we don’t know how much he owes. If someone told you they had 55k in debt and made 88k but were struggling there is something else wrong. If he came out and said he had 55k in consumer debt and 200k in home debt that’s 255k for 88k in income which makes more sense in why he’s struggling.

[@lindawilson4625]

Sell everything (house, cars) and do a reset living within your means. No HOA!

[@IMadeThis123]

Classic example of what happens when you finance your life, you buy or finance things you don’t actually need. Selling the house or tapping the equity is the kiss of death, financially. You’re not going forward, you’re going backward and deeper. The huge risk is that you lose your house or you have to sell it to keep from losing it. Now you’re a renter.

[@2k3SteedaGT]

Listening to these calls always makes me feel like a financial genius in comparison

[@Nippdenook]

He needs to stop paying the credit card. Also, he needs to restrict food to 150 a week. No, subscriptions. Lose the internet. Lose the vehicle that costs the most insurance and fuel. Keep the roof over your head.

[@atorres11720]

What happens if he stops paying just the credit cards? Won't they sue?

[@AllynHin]

@@atorres11720 Eventually, but it might take them a couple years to get that point. They'll spend at least six months hounding him for a payment.

[@Sizukun1]

"Revenue generating property" is such a clear cut term and easy to understand as a concept, but then you have dummies like Danny thinking the answer is buying any old rental property to "generate revenue" and think thats how people get wealthy while ignoring the reasons why they're in serious financial trouble.

[@kbanghart]

Or just ignorant about it and not dumb.

[@johannesswillery7855]

Yep, landlording ain't for the meek.

[@kbanghart]

@@johannesswillery7855 my sister and dad both got into it, didn't go fantastic for either of them. I worked for a broker who I guess it was working for, and he enjoyed it I think, but every week he'd show up to work with a truckload of trash he'd have to remove from his rented spaces. Ugh that's crazy.

[@USMC6976]

He has TOO much house. Sell the house, pay off all the debt. Rent for a few years, but don't rent in the high rent district. He has to stop thinking about his FICO score. That is what got him into this mess.

[@anthonynguyen9779]

Dude, you are living WAY OVER your means. Too many people upside down with the car loans and I don't get it. I am driving a 2013 minivan but no car payment 7 or 8 years now and I am loving it. The car doesn't make me.

[@alycewich4472]

The current vehicle I have is an 07 RAV 4. Plan on driving it until the wheels fall off. (I'm the daughter of a mechanic and we did that with all our vehicles.)

[@matthewholliman1399]

Payments is more than 50% of your income and they are saying keep the home….

[@Podcastextras]

Need to have a 2 income household

[@Shortballa11]

Sell the house. It’s pretty simple

[@kidamere2408]

eh he live in orlando finding a place isnt going to be much cheaper then his house payment

[@Shortballa11]

@@kidamere2408 2700 for a mortgage payment is a lot plus all his minimums for debts. Need to find a $2,000 two bed room, pay off all debts and start over. May never buy a house again bt at least it’s a fresh start

[@alycewich4472]

That won't take care of much of it because they still have to have someplace to live. They obviously can live with just one car as they're not using the second one because they can't afford to REGISTER it. So while they're looking to sell the house, they can just sell the unused car and the other one that has payments (even underwater, getting a smaller loan to cover the difference would help), Then buy a beater/hooptie vehicle that is mechanically sound. And, as Dave says, "Sell everything so that the kids will think they're next". PLUS go on a cheap food plan, rice and beans, beans and rice. It CAN be done. Even if they have to sell everything and start completely over again, with perseverance, they will be successful.

[@Shortballa11]

@@alycewich4472 idk if you heard the call bt he said he brings home $5k and the home payment is $2700. Add utilities and they are left with $2k. That doesn’t cover much considering he has a wife and kids. Selling the house is a must to get out of debt and find a place for $2k.

[@Maelu-op9gf]

@@alycewich4472 they need to just rent.. 2 bd apt or something and dig themselves out of their huge hole. They are drowning and going to lose the house anyway

[@kayn2756]

Wife needs a job on the weekends making an extra 2k a month will change everything

[@jmanrock11]

What job is the wife gonna do to make 250 a day? 2k a month only working 8 days?

[@kayn2756]

@jmanrock11 plenty, depending on which part of the country you are in. There are jobs within healthcare that pay well and do not require a degree. Just on the job training and pay 20 to 30 $/hr, depending on your location

[@jmanrock11]

@@kayn2756 do you know what the position are called by chance?

[@gdolly166]

Remote, evenings or weekends.

[@shipontime]

WTH did he buy the house he couldn’t afford? And then did the improvements he didn’t have money for? He can’t even blame anyone but himself for this.

[@BagsNBaguettes_327]

I doubt his wife works, she needs to get a job, staying home is a luxury and not an option for them. They’re drowning, if something doesn’t change, they will see bankruptcy soon.

[@marcenelj]

It all depends on the ages of their 2 kids. If the kids are younger than kindergarten age, can she make enough to cover daycare costs and some more? That's the real question.

[@carpediem6431]

Exactly. So many people who don’t have kids or had them many years ago, don’t get that at the minimum day homes/daycares charge $1000 per kid. So that’s at least 2 grand after tax. It’s a nice fantasy of the “get back to work” commentators that these stay at home mothers are all dr’s, lawyers, plumbers, etc. that can just slip into hundred thousand dollar a year jobs and everything is hunky dory but guess what, waitresses, clerks, hairdressers, warehouse workers etc. also get married and have kids. Unless you make a certain level of income it just doesn’t make economic sense.

[@alycewich4472]

Back in the day, decades ago, it was more financially sound for me to stay home with our children while my husband worked. My part of the equation was not have a car for a while and to stretch the food dollars until they were paper thin. I figured out when the food sales happened (one week it would be beef, one week chicken, Thanksgiving was turkey and so on). There was also a drug store that carried lots of canned and packaged foods. About once a month or so they would have their one pound packages of pasta on sale for 25 cents a bag, no limit. So I would get 20-25 bags at a time. Then I would go home and dinner would be, Start with a pound of pasta and make some sort of topping for it. We also ate lots of rice and beans that were cooked from scratch (much cheaper that way). We also shopped at thrift stores before they were cool. We entertained ourselves at home. We were also renting a lot that had 2 houses on it. So we lived in one and sub rented the other one. It took us 10 years to pay off the enormous debt that had accumulated. Both sons are excellent with their finances. So they learned lessons that they might not have learned otherwise.

[@tiny_e43]

Depending on how old the kids are it could be smarter to stay at home rather than pay childcare. But I I've known multiple couples that one works first shift and once they get home the other one goes off to work second.

[@Sexy40baby1]

You don't get to stay at home if you spend money that isn't there causing you to not afford life

[@kbanghart]

Me and my wife solved it by her running a daycare in our house, that way she got a nice income, plus lots of tax write-offs.

[@KS-cl8br]

yes but that is hard on the marriage because the couple is rarely time together

[@ykook7000]

​@@kbanghartslave labour couldn't think of anything worse than looking after other kids while trying to look after your own

[@DoctorSmartyPants]

I don't think caller said if his wife was working or not. Why didn't the hosts ask? Also, they did not inquire how he could increase his take home pay. He is probably having too much withheld if his take home is only 5k. Perhaps contributions to retirement coming out of check. Why did they not explore any of this?

[@LeviRobinson270]

Creating another source of income in these difficult times is the best thing to do not only does it guarantee returns, it also helps you plan and save for future expenses I hope everyone who reads this will be successful in life

[@AroShyti501]

Assets that can make one successful in life

[@AroShyti501]

I. Forex 2.Stocks 3.Shares

[@MrsWilliams762]

You are right.

[@MrsWilliams762]

But I don't know why people remain poor due to ignorance

[@Olivia419]

It's not ignorance but unprofessional broker in the market

[@lav7161]

Some calls sound like they don't get any answer to their problems at all 😐

[@MP-tt5yo]

All they do lately is give a free book and the everydollar app, it’s ridiculous.

[@debragiovine9797]

The problem started when he brought to much house 4 years ago on a $2700 month mortgage payment. He didn’t,t say that his salary was net $88 k.. or gross ,,, George was to busy talking about reading his book,, He should be asking if his wife is a stay home mom or does she work part time,, should be asking more question about the family finances,,, “””instead ,, Just read my Book,,, everything will be just fine,,, Once again these guys try to past Themselves off as financial advisors,,,

[@Brianne-nc6qz]

Dave says don't sell the house u less it's the problem... let me help you put George and John when 1 payment is 54% of the income IT IS THE PROBLEM

[@catherinewilke5583]

Only broke people care this much about their credit score 😂. I haven’t the foggiest idea what mine is. If I want something, I pay for it.

[@handleyobusiness]

Same here. I haven't borrowed money for any reason in nearly a decade 😂

[@megalodon1726]

Credit score affects your insurance rates. It's not just about borrowing money.

[@superblump87]

​@@megalodon1726yep, and is looked at when being considered for certain jobs.

[@ilovenoodles7483]

Well I'm glad you're not broke. Good for you. 👏🏼 You are wrong though, when you say that only broke people care a lot about their credit score because I know plenty of rich and well off people that care deeply about their credit score and check it once a week.

[@lot2196]

Same.

[@JarettHerder]

This guy needs to go on Caleb Hammer. We need a deep dive into this because something isn’t adding up. He has 1/2 his yearly incoming in debt and can’t keep up?

[@ykook7000]

That channel is a farce and just for novelty sake

[@JarettHerder]

@@ykook7000 not true at all. Going through financial statements to find what the real spending issues are is what some people need to see. Is he over the top sometimes? Yes. Does he provide real wake up call for people with spending issues or behavior issues with finances. I think he does 100%.

[@InternetUser._]

Gross does not equal net pay. His mortgage alone is over 1/2 of his net pay.

[@JarettHerder]

⁠​⁠@@InternetUser._ he said he has 55k in debt but he obviously wasn’t including his house in his debt so we don’t know his house debt. After rewatching it he has 2 much house on top of 2 much in vehicles with huge payments. House and car payments are 3/4 his take home.

[@cristianalvarado4153]

Caleb hammer is total joker. Can't stand seeing his bs videos pop on my feed

[@imrindar]

This was a bad call. I normally love Dr. John, but he and George did not control this call. They were not to the point; didn't get down to business and didn't set him on a path.

[@jessicachavez4891]

I grew up dirt poor. There where times my mother had to choose between food and electricity. I wouldn't change my childhood and those experiences for anything. Because it taught me I barely need anything to make me happy. So 80k is so easy to live happy on once you find Dave Ramsey. Seriously.

[@LouiseTotal]

Where'Dave? These guys go no where to set this guy on a path recovery!

[@joesmith3590]

Talking about feelings.

[@snackman2005]

Dave is both more knowledgeable and shows more empathy.

[@kbanghart]

​@@joesmith3590where in the video did they talk about feelings?

[@joesmith3590]

1:50. lol dude

[@joesmith3590]

His response to a credit issue is what about your feelings. lol.

[@wendyraynor973]

$2500 mortgage and $1100 in car payments is $3600 of $5000, and they’re puzzled where the money is going?

[@michaelhaidee]

@6:50 Problematic is the callers on this show not telling the truth on salary, and getting caught up in it. $5000 take home at a typical 25% deductions >>> 5000*1.25*12=$72,000 gross annually salary

[@Chet_24]

You don't know what his benefits cost or 401k contribution is. He's probably not lying.

[@arthrodea]

He may have health insurance for his family being deducted. He definitely has taxes being deducted. Some employers mandate a retirement contribution (one of my jobs does this, I cannot opt out, as its a federal job). I have to pay parking out of one of my salaries or I can't park at my job (its at a hospital). His salary numbers don't sound wrong to me.

[@Bamapride1985]

This is what is happening with many middle income families with the effects of the inflation of prices skyrocketing the last 3 years now.

[@martinreynolds5905]

Nope, it’s just poor decision making

[@kbanghart]

​@@martinreynolds5905exactly. Too many excuses for this behavior.

[@kbanghart]

Yes, inflation happens, regardless of who is in office. You have to make good decisions.

[@gregorypaine513]

Crazy JOES AMERICA !SAD!

[@beck943]

​@@kbanghartRecord breaking hyperinflation IS the result of who's in office now.

[@Lesh004]

Top priority should be selling the house. This family isn’t drowning from car and credit card debt. They’re drowning from that horrible mortgage situation. I wish John and George would’ve stressed this! The house has to go otherwise they’re not gonna make it.

[@joelmartinez2278]

You only care about credit if you plan to borrow again...thus being in debt.

[@kbanghart]

No, it's also about insurance rates

[@alycewich4472]

@@kbanghart I've never heard of that. Is this a new phenomena?

[@reese85]

That’s not true. You can’t even rent certain apartments if your credit is bad

[@kbanghart]

@@alycewich4472 not sure how new it is.

[@cljerjr31]

someone should have screened this call better, there is critical data missing from this call that prolongs the torture

[@alycewich4472]

Yes, at the end of the call, I just about fell out of my chair. "Well we're not using the 2nd car because we cannot afford to register it! That should have been one of the first things he said, not the last. Then that car needs to go yesterday!

[@Angelo80907]

People putting money into their home that they have no plans on selling and calling it an investment.

[@dnah02]

Car payment and a mortgage is a big no.

[@BrooklynP333]

If you're on the verge and can't look at your finances, you WON'T look at your finances. It's a mental health thing that we can't keep ignoring. 1st step: Acknowledge 2nd step: Empower 3rd step: Educate 4th step: Motivate 5th step: Support 6th step: Advocate The rest is up to them, of course, but they don't have to be left with feeling worse about making the call. The psychological effects of finances lead to suicide everyday. I hope him, his wife and children will be ok. ♥ Thanks for trying gentlemen.

[@BobDobbs681]

Danny, snap out of it and pull it together. You can do this.

[@palady1486]

Agree...he needs more support than these 2 guys gave him. You can hear the desparation and defeat in his voice

[@GAFB1122]

And this folks is why Dave's program is BEHAVIORAL based!! This guy makes $88K, not bad. He is sharp enough to be an EHS (Environmental Health and Safety) Manager, whatever that is, lol. I've been in my career for over 20 years, and I have met so many sharp people that are great at their job BUT horrible at navigating life mostly due to behavior!! No matter how sharp you are at work, you'll never get props from me if you do not apply that sharpness to your personal life!

[@joesmith3590]

Man I used to work with a coupe that made 400k in a bad year and they had to use the bonus to pay off the credit card every year.

[@reese85]

88k with a family of 4, is not enough assuming that the wife doesn’t work

[@esued86]

Why do people always look for a life saver when the water is up to their chin? If my ankles start getting wet, I'm like "Whoa, I gotta do something different."

[@machinesnmetal]

when the tide goes out, you can tell whos skinny dipping WB

[@alycewich4472]

There have been times in my life where I have not paid enough attention until the water is up to my chin. Fortunately, I'm better at recognizing it now.

[@crazeekids9744]

I don’t know why they are acting like 90K is some awesome salary. With inflation, 90K now is like 50 K just a few years ago.

[@jasonleatherwood2172]

We make 120k with a paid off hluse and drive 5000$ cars what is wrong with people

[@cyoohoos]

Does the wife work?

[@autordijanaferkovic]

the guy has called the wrong show - after mentioning credit score for the fifth time, George wanted to hang up

[@chuckdameron5626]

The problem is he bought to much house he pays 32 grand a year for a house and he got to pay HOA dues to needs to sell the house get out of Orlando

[@izzeww8487]

Ramsey personalities are way off base here; it's rare but it happens First, sell the house and get a $1000-1200 per month rental (no problem at all in Orlando, FL, can even go cheaper) , that will clear 1500-1700 a month. That should get you current on your mortgage and you should be able to get enough cash (equity from house) to cover the difference and sell one of the cars. That will clear another 500 dollars a month. Suddenly you have about 2000 a month to start working on these debts, you should be able to get that done in about 2 years. That is assuming a similar income. If your wife starts working a little bit, say 15 hours a week at Walmart, then that'll add about 1000 bucks a month to that, so you'll be done in a year and a half or somewhere around there.

[@CarlaQuattlebaum]

GET a $1000 - 1200 per month rental? No rentals go for that anywhere, especially Orlando. Are you meaning for THEM to live in or to rent out? Are you suggesting they sell their current house to buy the rental? Why would they try to get current on the mortgage of a house they sold? I'm not sure if you're being sarcastic, or if I just need you to explain this better so I can understand the comment.

[@izzeww8487]

@@CarlaQuattlebaum Getting current on the mortgage was incorrect by me, I meant getting current on other debts (it seems he was behind on most everything and late fees were stacking up)

[@BallAintLife123]

@@izzeww8487 you offered more help in a paragraph than either of them did for the whole segment lpl

[@Joshmarmolejo_]

How does have two car payments? Plus a mortgage? Damn I can’t imagine living like that.

[@BallAintLife123]

@@Joshmarmolejo_ this is actually pretty normal unfortunately

[@Zip_Zero_ZILCH]

Man he is conducting the band on the Titanic..... They're all there and they all know it is going down but he's got his back to it

[@musicessexx]

Terrible advice from these guys as they were just grasping for straws. How is he going to get a loan? He already said he’s been late on credit payments, so his credit score is already shot. Then at the end, they send him a book to help?

[@palady1486]

Seems like they "dropped the ball" on this caller and he seemed like he was so over-whelmed and needed help.

[@ChilledNurse]

I’m proud of my 800 credit score but I am much more focused on paying cash for everything minus future house.

[@alycewich4472]

So why do you need an 800 credit score?

[@joeriveracomedy]

1:33 dude is still talking!

[@front331]

The adrenaline from getting punched in the mouth hadn't worn off.

[@evankolar8957]

Hey Dave, just a quick question for you. I currently work 2 jobs. My main job is in construction which I make great money at but have no benefits. And the other Is a school bus driver job I don’t have to work too many hours a day but offers full time benefits like health and dental. I’m starting to wonder wether I can do this forever cause now I have a family and it’s starting to become harder to see them when I work so much. I’ve given Christian Healthcare Ministries a look into and I feel like I could try that to see how it goes. But I wanted to ask you. I enjoy both my jobs but I’m starting to feel like I over work. My construction job pays great and I truly love what I do. My low hour school bus driver job is probably what I would give up. The pay isn’t good but they offer benefits for a low hour job. But what do you think I should do? Thank you!

[@lisamata2270]

My son is in construction and uses CHM. Recently had a baby and it covered the medical bills. Took some time for the payback. I think it's a viable option.

[@MzMąħ]

Should try velocity banking

[@MarioVisions]

Hopefully this guy is reading the comments. They didn’t really help you at all. I was in a similar situation. What I would tell you to do is don’t sell the house. Get another job. Part time job that can get you an extra 1k a month. Your wife has to work and start providing. 6 months you can beat this. I was 100k in negetive and cleared myself off with three jobs. It’s not healthy but it’s just a short time to clear all the stupidity one made. Don’t regret anything just learn from it and grow better. This ain’t the route everyone can handle but I will say do it. You have plenty of time to flip it around. Remember to be in a better place we all have to sacrifice something. If that be spending time with kids or not hanging with family. Just focus and I hope you overcome it.

[@shionajoseph3248]

He’s going to have a hard time selling if he’s behind in HOA fees

[@kbanghart]

Maybe not, I think maybe they just take it off the final price

[@davidmilhouscarter8198]

Mortgage plus car payments $3800 Take home pay $5000-5500 Left over $1200-1700

[@smithersrob]

He's spending nearly 70% of his income on his house, his house doesn't need to be the last thing he sells, it needs to be the first, he bought more than twice as much house as he can afford. Sell the house then use the little bit of equity to cover the underwater cars then buy half as much house and 2 x 5k cars with cash and this whole situation turns around.

[@daveavemian5940]

@smithersrob - yet another person with absolutely no clue what the mortgage world is now. Dude there's no half a house. There's no houses that are going to be 1400 a month. That's a pipe dream of the past. With current interest rates, everything in america now is 2500-3500 a month. There's no feasible way to lower his mortgage payments. They have to earn more income. 80k is not enough for a family of 4 to be ok in america anymore, unless you have a very cheap mortgage from 10 years ago

[@ad3781]

brings home 5000 and mortgage is 2700 and two cars total 1100. thats some cray cray stuff.

[@alycewich4472]

Remember, the $1100 is only for the car payments. I have found that the car insurance is as high as the car payment. So I would tack on another $1100 for that. Cray cray for sure!

[@Brianne-nc6qz]

George is not very good at the advice thing, if you have a mortgage payment more than 50% of take home pay there is not way in hell that you can keep that. That's why this dude can't breath, this is just basic personal finance 101. This payment is crazy... idk how the lender even approved this. For real Dave needs to get better people on the advice giving panel, he literally doesn't even understand basic math

[@rooster5755]

WHERE IS ALL GOES?did they seriously ask that question?the dude has a $2700 house payment!my wife makes $85k a year and we are a family of 4.there is no way we could survive on just her income comfortably...this is even with $1k less in house payment and NO car payments..this is 2024 people,$100k isnt alot any more.we pay whats called TAXES and HEALTH INSURANCE!!dave is wearing off on his people..NO IDEA WHAT REAL LIFE ENTAILS.

[@juju543soccer]

If the wife isn't working she should start working on weekends while the caller stays with kids. Once the first one is school age it becomes more worth it to pay for daycare for the other kid and the wife can work full time. Few can afford a family on a single salary nowadays.

[@chookchack]

This is where your house becomes a nightmare instead of a blessing. But Debt is money!!!! One man said.

[@nrqed]

George and John really dropped the ball on this one.

[@BallAintLife123]

Once again these guys fail to actually provide a real solution

[@SuperMatrix59]

Watch out for the iceberg

[@garyclark6427]

These young kids are talking about their homes increasing in value. They weren’t working when 2008 happened and some of us saw our homes decrease in value by 25-30%. And auto manufacturers, newspapers, and businesses were going out of business.

[@alycewich4472]

💯

[@raphymartinez]

1:53 “Are you ready to live a different life?”… no George. He just told you he’s concerned about his credit score because it will affect his ability to take out more loans, and his plan to get out of this involves more debt.

[@khrisstake2210]

2 car payments, a $2700 mortgage on $5,500 a month? How?

[@loriej9297]

John, It isn't "happening to him". He is doing it to himself. Don't give him a cop out. He needs to take responsibility.

[@bigcahuna42366]

$88K per year should be $6K per month take home, considering that he isn't paying state income tax in Florida

[@reese85]

Heck no. Do you guys not pay deductions and 401k where yall work?

[@morgana.3397]

Health insurance for a family of 4

[@leex1347]

What about the wife? Is she working or able to work? How can she contribute to increasing their income? Didn’t catch is she’s a sahm, if so, can she side hustle? If he’s feeling stress and pressure about their finances, spouse needs to step up too.

[@TheDjcarter1966]

SELL THE HOUSE!! rent for a few years to breathe. PAY OFF EVERYTHING! SWEAR A BLOOD OATH TO NEVER BORROW AGAIN.

[@YT0091]

For some reason this man makes decent money but he doesn't have any. Yes, he is in a big hole but it doesn't seem insurmountable. I think he maybe just reached a break down point in his mind instead of breaking down all of his numbers. I think that is what it is, organization of the numbers.

[@alycewich4472]

And that's what they suggested.

[@user-rw8zj1td9v]

His mortgage is too high. With his debt and current cost of living he's being crushed. Ramsey personalities always forget about income tax, insurance, etc....

[@daveavemian5940]

this is the world we live in now. 80k a year is poor unless you have a very cheap mortgage. If you bought a house last few years, you need a 150k household income to get by. This guy is paying 5k a month between mortgage, cars and utilities alone. It's not like he's going out to ruth chris steakhouse every night. He's living just average. Cost of living is insane

[@John3.36]

Sell your stuff and start over. Live below or at your means. Swallow your pride.

[@bfrye41]

This should have been a Dave and Jade call. Period. He would have had more help than " help me understand. "

[@tylerhair9067]

His takehome pay is $5500 a month. His house and two cars is $3800 a month. That’s where all his money is going geniuses. 🤦🏼‍♂️

[@utetopia1620]

Sell the unregistered car and pay off as much of that loan as possible. Get a consolidation loan for the other car and anything outstanding, on a longer time frame. Put the payments once used on the sold car onto the credit card until paid off. Use the credit card payments once used for the credit card into the new consolidated car loan. Another option is to use the equity in the home to pay out the all the other loans, but I wouldn't really recommend it. The payments on the house will go up, but not by as much as all the other payments combined. Last of all.. reduce the cost of living. Renegotiate insurances and utility rates. Deactivate subscriptions (no Netflix etc). Buy Home Brand. Cut out alcohol.

[@alycewich4472]

You forgot one thing, groceries can eat up a huge about of money. As Dave says, "rice and beans, beans and rice." That's how my husband and I worked to get out of debt. I bought foods that needed to be cooked/prepped at home. At one point in time, the food budget for a family of 4 was $65 a month. We had one car, we rented a lot that had 2 houses on it and sub rented one. The neighborhood we lived in had lots of people on commodities. Don't know it that's something that is still around. But most of our neighbors (and my grandmother) didn't want the powdered milk and my grandmother didn't want 5 pounds of cheese as she couldn't eat all of that in a month. So I would take any of the neighbors' (or family's) food they didn't want. When you get to that point, pride is no longer in the picture. I have found that humility is a good thing as it opens you up to opportunities throughout life that you wouldn't have seen without it.

[@hollyb6885]

SELL THE HOUSE!! His mortgage is more than 50% of his monthly take home pay. Jeez. That’s a no-brainer.

[@itchyisvegeta]

What does Dave say? Housing payments should make up more than 1/4 of their monthly take home? This is 1/2 their take home. I agree they should sell the house and start over at Babystep 1. George and John are great. They are doing their best, and getting better. But I have faith they will get there. They are spot on that the dude doesn't have an awareness of all his numbers. That would help in the call.

[@ThatGuysGuitars]

What I don’t get, is him saying he has a salary of 88k, but is only taking home $5k a month. IRS tax as a single filer would be about $18k (leaving him 70k - or $5800 a month) Filing married would be $13k, would leave him $75k (6250 a month) and claiming the two kids, even more in take home income. He’s in Florida, so no state income tax. Even with the $2700 mortgage payment, and the car payments. He should still have money leftover for general living expenses. Somethings not mathing here

[@djtomeson]

It could be healthcare costs and/or retirement

[@ThatGuysGuitars]

@@djtomeson then say that. It wasn’t even mentioned by the guy, or the Ramsey crew, so I imagined they either don’t have it, or it’s negligible (though, hearing this idiot, that probably is where it’s going) 😂

[@izzeww8487]

Health insurance maybe?

[@morgana.3397]

Are you forgetting 7.65% payroll taxes (Social security and Medicare)?

[@TheEGA4421]

What is he paying monthly for electric, gas, water, vehicle insurance and home insurance and property taxes? If he has not calculated this into his budget then selling his home is the best thing to do. He mentioned 'the past four years' well we all know what has been going on since then with the economy.