I'm $500,000 In Debt And Don't Know Where To Start!

I'm $500,000 In Debt And I Don't Know Where To Start!

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• The Ramsey Show (Highlights):

[benreilly]

You can start with rice...no beans for now

[UneakTershai]

On the bright side he knows his numbers 💕✨

[BoGaines]

People like this help put things in perspective for me. Glad to be debt free except my home. Decided to stop being dumb in 2018 and paid off all my debt in that year. Now on to paying off my home 25 years ahead of schedule!

[katrinaumana]

At least it wasn't a $500K Student Loan in Left-Handed puppetry 🤷😂

[quietmindzero]

That Accord and Pilot might outlast the Mercedes to be honest. Sell the Mercedes.

[kristenlevine]

I think that English might not be his first language so I admire him for appearing on the radio, trying to answer all of the questions, and admitting he’s got a problem. If he plans it out carefully he can get this taken care of.

[kristenm]

Just paid off my car today and being debt free is legit the most liberating feeling! I feel so bad for this guy but it IS possible! Thank you Dave for all you do! ❤️

[austinpatrick]

At least he's got a big shovel as Dave would say. Surprised he actually didn't say it.

[prindale]

Our household income is $200, 000. paid off our student loan $30000. Cashed flowed a wedding this year. Paid substatialy towards our house.remaining debt house 42, 000. Living frugally work and home made food.. Debt free at 31

[DFullerLisa]

This guy actually sounds like he’s gonna listen and follow through. I hope to see him on the In Debt show!

[AverageJoeInvestor]

*GREAT VIDEO DAVE!* When you say $500K in Debt it sounds OUT OF CONTROL, but when you break it down, it is POSSIBLE! Rip off the band-aid and truly know exactly where you stand, then make a plan. That’s what I teach on my channel as well! GREAT VIDEO! 👍🏻😎

[retiredmanager]

$500k and don’t know where to start?? How about building a “Hot Tub Time Machine”?

[charlescc]

Dave- props for not cutting the caller off with the mute button. Much better in my opinion.

Another great cideo

[DLShoulders]

You gotta love this country; anyone can rack up debt buying things with no accountability at all. He no idea what he even has.

[marktalksmoney]

Dedicate the rest of your life to financial responsibility from this day forward is your only hope.

[scorpion]

“ I have 212k rental property, My house has 180k, wife has 41k car, 55k credit card debts. I don’t even know where the money goes”
Good Morning Sir.

[Thurgor_Supreme]

I bought my house cash and the only loan in my life was $40k for college (paid off). I'll never understand why people choose to live in debt. Unless you're a hyper-intelligent entrepreneur, you should NEVER make deals with a bankster, and never spend money you don't have.

[dogan]

Hello, I drive a Toyota sienna book value is $2000. Debt free. I love it.

[npxmnpxm]

Long-time listener and yet every time I hear it I think Dave is about to drop an F-bomb at 3:29.

[ariefraiser]

Rental property 212k owed worth 270k
Home 180k
Car 41k
Credit cards 51k
401k loan 25k

This gentleman's situation isn't as dire as he made it sound because the majority of his 500k of debt are in real estate. One a rental that will net him about 40k after selling and the other his primary residence which people don't generally count when they say they're trying to get out of debt.

His debt that he has to worry about are car, credit card, and 401k which total 117k. After selling the rental he can knock out most if not all the credit card debt and he's down to 67-77k. Sell the stupid car for 30k and buy a decent hoopty for 5k and he's debt is 42-55k. Knock that out over 2-3 years and only thing left is mortgage. Now if it were 500k in student loans I would be crying. There is no debt worse then student loans. Well maybe being in debt to the mob is worse but not by much.