I'm in a SERIOUS Amount of Debt!

💵 Create Your Free Budget! Sign up for EveryDollar ⮕ ter.li/6h2c45
📱Download the Ramsey Network App ⮕ ter.li/ajeshj
🛒 Visit The Ramsey Store ⮕ ter.li/7vyom2
📞 Have a question for the show? Call 888-825-5225 weekdays from 2-5 pm ET or send us a message ter.li/n88ly5
Explore More Shows from Ramsey Network:
🎙️ The Ramsey Show ⮕ ter.li/ng9950
🍸 Smart Money Happy Hour ⮕ ter.li/9gcp3d
🧠 The Dr. John Delony Show ⮕ ter.li/2u3mc0
💰 George Kamel ⮕ ter.li/1elws8
💡 The Rachel Cruze Show ⮕ ter.li/n2u6jc
💼 The Ken Coleman Show - Highlights ⮕ ter.li/1rbjr2
📈 EntreLeadership ⮕ ter.li/ktxv2k
Ramsey Solutions Privacy Policy
www.ramseysolutions.com/compa...

[@cerealcrusader7096]

I listen to these while I get ready for my college classes to keep my grades up for my scholarships. No student loans for me.

[@madebyawosika2061]

Same here. Applying for scholarships is a part time job for me 😂

[@rogerchanin6786]

Great job!

[@Prince-fn7ff]

Great job!!

[@cerealcrusader7096]

@@madebyawosika2061 That's what I tell people! I do my own scholarship webinars now, this is some of my most important advise.

[@michaelp9707]

😎Awesome

[@michaelp9707]

High paying job,valuable home.Situation not as bad as it sounds.

[@howlbeast]

That house will be worth double if not triple in CA

[@teeduck]

@@howlbeast no. His house value of $700k isn’t going to $2 million. Not for a tract house in lA. Not in the next ten years. Maybe 50 years, if we’re all still here.

[@ianrobinson4200]

Yeah, this guy will be ballin' by the time he's in his 50s

[@I_am_milan]

Exactly

[@portiaowusu1706]

Yeah! His situation is actually not as bad as it it initially appears to be.

[@johnlanier3616]

People, DONT BUY A TIMESHARE

[@RJ-cv2uw]

I know right

[@amydoran9987]

Yes

[@stacieflores8650]

i don’t understand what a time share even is

[@switchmaster5860]

@@stacieflores8650 it’s a useless money pit that’s what it is lol I know what it is and still don’t know what it is if that makes sense 😂

[@pistachiosandpopcorn7146]

My sister was a DR and of course she had a time share also. I don't get it. I also think she was in plenty of debt.

[@amandadean3948]

If broke people are making fun of what you do, you’re on the right track. Dave is hilarious 😂

[@moktanzan7700]

This caller is in quite better shape thn most people that call on this show.

[@alecoria18]

Big facts!

[@elmerramirez1215]

@@alecoria18 they say they need answers well i got big facts big facts

[@socketyellow3]

Yeah it kept getting better and better with every question, being single also means he doesn’t have to worry about convincing his wife

[@bitcoinpysa-cryptominer456]

*Chef Ramsey ganna bring out the one item menu: Rice & Beans - Beans & Rice special*

[@SeanBaker]

It's raw!!!

[@rogueskiss3794]

Haha as long as it wasn't microwaved it's the best kind of rice and beans

[@bitcoinpysa-cryptominer456]

@@SeanBaker Dave ganna take the chef title away from Gordan Ramsey.

[@achavez78]

If you're lucky you may be able to add salt and pepper... (Maybe)

[@1jw298]

That’s 2 items

[@JonnyJets]

Serious amount of debt, but also a serious potential to change his family tree. Rooting for him!

[@vg6790]

I pray this caller succeeds in getting out of debt.

[@daltonbrasier5491]

My first favorite meal is rice and beans. My second favorite meal is beans and rice.

[@daltonbrasier5491]

@@lmnop01 Too many choices can be a bad thing lol

[@welcomehomeandrea1792]

When I get the urge to go shopping 🛍 I listen to these videos, it reminds me of my why and keeps me on track! 🙏

[@philmarsh7723]

Dave: "Are you married?" Caller: "No", Me: "That's good too"

[@222wheelsdown]

Take a shot for every time the caller says “ya know?” 🤣🤣

[@ClearOutSamskaras]

"Caring what other people think will kill you."

[@TheLuxeTraveler702]

I'de get a few roommates for a few years and use that income to pay down some debt. He definitely doesn't need to sell the house.

[@bougiestocklvrdoc2470]

Hi I’m a NP (Family & Psych) and yes we start off making that much and can go upwards when starting our own practice or working OT. The options are endless! Many of us work as nurses while in NP school so that we don’t have to take out school loans for graduate and doctorate degrees. Some hospitals will have tuition reimbursement which helps tremendously. I also supplemented my income while working as a college professor at the school that I was getting my doctorate from. Guess what? That school paid for my doctorate as I continued to teach for them! There are so many options as a NP and absolutely he can get out of debt fast with this career. He is fortunate. He should move away from CA to a place where the cost of living is less and he will get that same pay.

[@Ty-iz9wd]

I am going to community college for for RN to become a NP. Didn't do mentally well in HS and dropped out when I turned 18. I currently live in Indiana right now and it's one of the places that don't cost much. I am really trying to hard to reach my goal and get there. With effort and determination I agree this guy can do it.

[@erickisel8668]

Sell the house and start over... clear the debt now

[@4ft3rburn3r]

I was thinking the same thing. He bought too much house.

[@libertyor556]

Surprised Dave said otherwise. He can save a new down so quick

[@mc98912]

Rent out the house and live in a cheap bachelor apt. When his debts are settled in a couple years he can move back in. Not worth paying the fees associated with selling and buying for 2-3 years.

[@kellyy9349]

In CA, it is not much of a house! Just like Northern Virginia. He still need a place to live no matter what! Keep the house. Rent out any extra room to payoff debt faster.

[@armandol1826]

@@4ft3rburn3r too much house? That's like buying dirt in LA. Our Santa Monica home went up 35x in 19 years.

[@njfinests]

dude, your not in debt, your house can cover all your obligations. Sell your house & pay off all your debt obligations.

[@666dynomax]

I've never heard ramsey say that unless the house payments on a 15 are more than 25%

[@TheAazah]

Than he has to rent there's not much security to that plus he lives in LA I think houses there go up like wildfire. So it be an waste to just sell it.

[@CammieKN]

@@TheAazah exactly!

[@jimklemens5018]

Only an idiot would sell their house in California.

[@bnepaul9268]

Very good advice he's also young with a good job he can start all over again maybe even buy a nicer house down the line later and happy be did

[@zander008]

I'm looking forward to seeing this man's update! You got this, brother!

[@sbentsen2714]

Caring what other people think is probably the biggest indicator or snag that holds a person back from truly pressing forward to living and managing money differently, changing their family tree.

[@ktsterlin9304]

So glad part of this debt is the house.

[@28goldenboy]

I would sell the house, pay the rest of the debt in less than a year and move to Texas.

[@bindingcurve]

Time to leave if you can.

[@stonecoldtim]

Great advice. You need your own radio show.😊

[@28goldenboy]

@@stonecoldtim I am looking for a secondary gig haha

[@pterodactyl1994]

We are full, try Arizona

[@bindingcurve]

@@pterodactyl1994 So all the businesses should move to Arizona as well? But your right, hard working highly skilled in demand workers should stay out :) And I will be happy to stay off your lawn.

[@Winston0Boogie]

Mah dude!!!! I'm going for my Nurse Practitioner degree right now!!! Fellow Nurse!

[@wshelby83]

Congratulations!!! Do your thing!!!!!

[@00177454419]

Didn't he say he owes 22G on a timeshare ? I would think that should be the first thing to go. He sure isn't going to be using it.

[@chrisstaub5880]

Getting rid of a timeshare is easier said than done. You literally can't give them away.

[@jimklemens5018]

How would he get rid of a timeshare contract?

[@dantoinettem6825]

I'm glad they talked about what the community is going to say... He needs the heads up.

[@flawcoaching]

I love that he know "he can do it"! I'm wishing you the best of luck, I believe you can do it too!

[@singleparentfire2363]

Sell the house, you don’t need it as a single unmarried guy with no kids

[@leadnsteel1428]

He can rent for a while

[@Jon-op1pr]

single unmarried guy can do whatever the eff he wants lol

[@christinebutler7630]

Don't rent. Rent will be more than mortgage. By a $2000 van for cash, live in it, shower at the hospital.

[@jsanjay5513]

Whew... thank God! I was relieved as the conversation went along lol

[@jumpmanyang3117]

6:02 is legendary "if broke people make fun of your financial plan, you are always on track!"

[@deadnysde7999]

For assistance reach out to me

[@deadnysde7999]

[@mc98912]

The guy was single and sounds young. I'm surprised they didnt suggest him renting out the house for a couple years and living in a bachelor apt. The guys going to be living on beans and rice, and working like a mad man, he doesn't need to impress anyone living in a house.

[@JA-zh5xi]

This isn’t as bad as I thought it was going to be! Sell the house and use the proceeds to pay off the student loans. Then 100% focus on the remaining debt. You can buy a house in 4-5 years.

[@pimpballer3]

He needs to move out of LA if he wants to do this. The LA culture is terrible for saving money

[@Vydio]

But would he get the same amount of income somewhere else?

[@RolexCowboy]

Stupid comment. Where you live shouldn’t dictate propensity to save and spending habits.

[@alp.9672]

@@Vydio actually yes, he is. Nurse practitioner is a 6 figure job. Look it up for Wyoming or East Coast.

[@jfloresdrums]

Nah he's good! The people that want to leave are the ones that can't afford it. He's perfectly comfortable here.

[@ezyryder11]

Graham Stephen saved plenty in LA, just make your own iced coffee

[@mxerb5912]

Did I hear 20k In timeshares and he’s not even married? 😂. You just going to chill on your own? Sell the home and use the proceeds to pay the student loan! How awesome would that be

[@scotttracy9333]

To be fair he did acknowledge he's made mistakes. He's manning up. Good for him

[@chanoy._v8758]

Bring someone?

[@jimroscovius]

I lost it when he said he had a timeshare. Why people in debt buy money pits is a puzzle to me.

[@Essays4College]

Caller: I make $1million a year Dave: You need to start living on rice and beans.

[@messywalk]

😂

[@jesslvrde6027]

😁😂😂

[@PInk77W1]

Fear Debt Eat at home Live below your means

[@the_rush_to_nothing]

Learn how to budget at an early age, and understand the difference between "need" and "want".

[@PInk77W1]

“I said no when I wanted to say yes” Caller on Dave Ramsey who paid off her debt

[@ajh.4131]

Also learning to live below your means. I think that’s a challenge for a lot of people.

[@gemmahicks2639]

i soooo wish we had someone like Dave here in the UK! the tools and guidance that he has to offer is amazing!

[@wewhoareabouttodiesaluteyo9303]

Convert everything from USD to pounds.

[@rebecapowers]

We can also arrange classes using zoom. Let me know if you would be interested in joining a class, and get others to sign up for it.

[@SimonSaysyo]

Man I hope he listens and takes this advice seriously. I would love to see him come to the studio and scream out "I’m debt free!" He seems like a decent guy.

[@leahmcdermott4189]

I think the 150k degree was worth it for his income! He could pay it off in 2.5 years on his income and then just watch as his income grows to 180k (as he said), no student loans. People just don’t wanna buckle down and sacrifice to pay it down.

[@ryugurena3327]

The key to life is hope. Trust me, everyone. Just one small spark inside of you can turn into a raging flame! Its such an incredible feeling 😢😢😢

[@j.3854]

What an interesting call. Interesting life choices. Interesting new focus. Good video guys. I learned a bit about someone else’s complex life. My life is fairly simple so sometimes I like to hear how others go about things. Even if not the best choices.

[@ahmadsamadzai8255]

My debt free scream is in 12-14 months. I can not wait.

[@josephinebournes8212]

You got this 👏🏾👏🏾👏🏾

[@rachelrochelle3714]

congratulations!

[@SelfMadeWealth]

Debts are like children: the smaller they are the more noise they make.

[@sami-9233]

Really

[@mbank3832]

Also, they both tie you down

[@Newtttton]

He's a single guy making $134K. Uncle Sam is probably hitting him close to 40% in taxes. Which means, he's bringing in only about $80K a year.

[@brianparrish4649]

When I get ready to buy something, I change my mind and place that money in the other pocket and instantly place it in my bank and make a payment.

[@edkennedy7952]

@0:05 buddys already laughing before he even speaks lol.

[@SHAMMYsSPOT]

I am surprised he was OK with keeping the house.

[@Doofwarrior88]

I love the start of every video with the guitar riff

[@hansonallie]

“Be working so much your eyes are crossed” Hey! As somebody has to see a nurse practitioner from time to time I’m not sure how I feel about that!😹🤣😹

[@pl6935]

if you work until your eyes cross, there is a bigger problem than the debt lol

[@user-rw8zj1td9v]

When reality sinks in and they realize the work involved to get out of debt, you hear the tone in their voice change real quick lol. He can do it though, will be worth it.

[@BUGZYFANG]

If you live in LA county and he got a house for that price, he's very lucky. Do not ever sell the house. It is way too expensive to buy a house in LA. in 2024

[@talyahr3302]

The fact that Dave said he wouldn't have known what to tell this guy if the debt was in the form of student loans, says it all.

[@letaravas9643]

What Dave means by that is if you don't have a great income it will take forever to pay it off and too many people go way into debt with student loans then get low paying jobs and wonder why they struggle. When people have a bunch of debt but they are making 100k and more in a high income career then the path is shorter and more manageable.

[@Wolf-wn6nk]

So tired of hearing people making six figures and a half million dollar house whine about their debt. It’s why I can’t regularly listen to this show

[@pscih7149]

That income is fabulous for a first gen student, and anybody in general. Big Congrats!

[@bravehats]

These callers ask some basic questions and get basic answer. I think they know what to do, they just need to talk to someone (like an emotional support).

[@danielponder690]

it comes off a bit bragging too frankly...over half is in a mortgage...a lot of people can't even own a home

[@MrOfficer235]

He can clean this up but he will have to be very focused.

[@rollinupinyah1802]

"It just depends on how quickly you want to do this and how deeply you want to sacrifice."

[@ad33861]

Caring what other people think is such a pervasive problem

[@Dwights_trash_can]

Take a shot everytime thr caller says " ya know"

[@annajones9701]

Grow up

[@a-a-ronbrowser1486]

that was driving me crazy too

[@ajh.4131]

Didn’t even notice. Glad I saw this comment after watching the video 😂

[@entropytheory8875]

Take a drink every time caller says “ ya know”

[@cjadams780]

I’ll be honest I think he’s more confused about the house like he thinks the 500k in house debt is in the same realm as the 220k but that FPU will help him understand

[@AccidentalHiker1]

"TIME SHARE" and the You know problem.

[@schawnettarobinson8584]

He can do this!!! I believe in him.

[@unnamedchannel1237]

I believe in all of us

[@missj5564]

This guy is not doing bad at all, to habe accomplished all of this and he is not even 30 years old. He will definitely listen to Dave's advice to become close to being debt free.

[@dbrown2890]

He’s gonna be just fine .😊

[@Thegeekoffworld]

He needs to automate those $75k throughout the year in paying off his debt or else he will most likely slip and fall off track. Its easy to say “ill pay it down next week” and forget about it. Excuses are easy but facing your problems is where people make excuses to face them. Listen to Dave and pay it off soon rather than later be in a bigger hole.

[@stevenporter863]

The caller is gonna follow the plan

[@jimklemens5018]

He could take 10 years to pay everything off. If he keeps the house, it will go up in value by at least 50%.

[@relyk226notnroht4]

I would sell my house and rent for a yr and be debt free with little or no problem. And start over with making 130k and find a small house in a yr or to of saving money

[@CammieKN]

With his income. Its more than doable to payoff. Housing prices in LA good neighborhood only goes up. Not worth it to sell and buy later.

[@relyk226notnroht4]

@@CammieKN good point cost of living has to be considered but for me he is working more than he is home doesnt really need a big place to sleep I would sell and rent a small apartment. You can rent a still save money his net worth would go down but that dont really matter atm. That's just my opinion.

[@relyk226notnroht4]

@@CammieKN and I'm saying sell and use the sell to pay off debts

[@nickblooruk]

@@relyk226notnroht4 I would agree in most instances. If he can afford his mortgage in LA though and builds up an emergency fund, the value of it will only go up.

[@Bob_Diesel]

I’m so glad he said neither about the profession. A lot NP’s would say they’re a doctor lol

[@marianemashkalo4182]

What is NP? enlighten a foreigner, he chewed the letters , I did not hear what he said:)

[@marianemashkalo4182]

oh, I see it in the comments now- nurse practitioner. I thought i heard 'neuro'-smth

[@yarrdayarrdayarrda]

God help Dave's plan if the cost of rice and beans goes up.

[@evalina98000]

🤣

[@araineacutebrownnurse7315]

He’s in a good place !

[@TheSAD999]

Dave "You married ?" Guy " No" Dave " cool"

[@normacordova3241]

“Something good involved here” Dave always puts peoples careers down lol

[@samtavoosian3059]

The fastest way to get out of those stupid debts is to cash out refinance. Take the $200k out of your equity and pay off all your loans in one week. The rates right now is 2.2-2.5% its below inflation! The house will appreciate over time and you are paying one debt off which is under your mortgage.

[@HangNguyen-ih8rf]

Rent the house or part of it.

[@Nile505]

That is just way too much house for that income. I don’t understand why Dave said to keep the house.

[@choreomaniac]

It’s LA. It could be a two bedroom for 750k. He may only be paying 3-4 percent on the loan. He might be paying more in rent if he sells the house than in mortgage and property tax and have nothing to show for it in equity in 10 years.

[@charlies.5777]

A nurse practitioner makes $135K ?! I had no idea!!

[@PInk77W1]

Maybe a ton of OT

[@fishroy1997]

LA inflation.

[@KEP1983]

@@PInk77W1 no, I'm in NJ and know NPs who make that much or more at 40 hr/week. An NP is basically a family practice doctor, and in CA is often a Doctorate, but at least a Masters in other states.

[@KEP1983]

NP isn't just a nurse. They have at least a Masters, often a Doctorate now, and basically function like family practice doctors. Nurse anesthetists make even more. Here on NJ they average about 225k.

[@PInk77W1]

@@KEP1983 cool. I was just wild guess

[@jeffdorris5321]

Nice work 🌠🎆✨

[@jermaine2924]

There is no way the house payment is 25% of his income. Which means he may want to sell the house

[@davidmyers2419]

Sell the house wipe the debt, lose the timeshare somehow (the probably hardest part), then save for another downpayment buy another house

[@jasontaylor8283]

even if he wanted to go to a restaurant he couldnt theyre all closed

[@chrisstaub5880]

Plenty of restaurants still do delivery or carryout.

[@untouchable360x]

Sacrifice is never easy or it is no true sacrifice.

[@fef619]

I think Dave forgets about taxes.... $6k per month is still likely difficult on that income.

[@ericcanady1637]

Dave always breaks down his game plan pre-tax.... I have no idea why?!?

[@ericcanady1637]

Plus California is one of THE most taxed States!

[@AdmiringObserverR]

I wonder if people call in to try and get Dave Ramsey program resources for free sometimes

[@LaTasha2224]

Is there anyone in debt on lower incomes??? I would love to hear those stories/miracles. I guess more money more problems....

[@ttr8141]

Wait, he owes $575k on a home worth $700k? Personally, I would have sold the home 🏡 for the $700k, put the extra toward the loans, and seriously consider moving out of California in the future.

[@wewhoareabouttodiesaluteyo9303]

The weather is what makes CA worth struggling in. There is no other state where one will feel at home at. I would rather live in a tent in CA than a mansion anywhere else.

[@jimklemens5018]

The appreciation on a house in California is exactly why you should never sell it. I purchased a house in 2001 for $700K and it is currently worth $2.9M. I owe $265K on the house.

[@jimklemens5018]

The loan on the house would be paid off during the closing process if you sold it. The extra would go in your pocket.

[@unnamedchannel1237]

My goodness when I heard 700k and I was crapping my self until he said it was mostly mortgage

[@Justsayingthat]

He is going to be ok.

[@razikhan4666]

Beans and rice, eat, sleep repeat. Saturday Sunday partying, destroyed Dave’s plan lol

[@et1016]

I do not want my nurse practitioner’s eyes crossing because he/she’s exhausted. No thank you!!

[@CaseyBurnsInvesting]

135k is a big shovel. That’s good news.

[@YouSoundButtHurt]

Not after taxes it isn't.

[@thomasgrice8864]

California taxes, and California living expenses ...

[@djpuplex]

Stay single. Ditch the timeshare. Work and pay off debt. Leave commifornia. Done.

[@steelunited1115]

Dave where else do you get a loan from? The bank 😄

[@frankrivera6794]

We need some beans and rice, rice and beans merch

[@samlee6152]

Good news is he only has $200k in debt outside his mortgage, and is going to make $150-180k very soon. He should be able to pay off his non-mortgage debts in 2-3 years if he wanted.

[@kevinb8881]

Sam, I agree, he could pull it off!!

[@dronetrucker]

Dude is in great shape for a bright future

[@gerardopliego-financevideo8214]

Just follow Dave Ramsey’s snow ball effect , really helped me out .

[@motorsandbeards]

I'm always wondering what do they write apart from the numbers

[@LordTrayus]

Selling that house is the quickest path forward. Know houses in CA are expensive but once you wipe out the debt - it's a clean slate so it would be like he graduated college except he has a $135k salary.

[@jimklemens5018]

Selling a house in California is about the dumbest thing that you could do.

[@Nonameagain80]

Surprised he didnt say to rid the timeshares right away