I Make $200,000/Year And Can't Pay Down My Debt!

Next Steps:

Explore More Shows from Ramsey Network:

Ramsey Solutions Privacy Policy

Product Links:

[TraumaER]

If you make $200K and still have money problems, you will always have money problems.

💯

[thorshammer]

His cohost should be on a smooth jazz show.

[red_monkey_butt]

That's an insult to people that are broke!

[TMliz]

Seriously. I'd be living off of $40, 000 a year and pay off the $166, 000 in 3 years tops. People are financially stupid.

[deltoids]

I have no empathy for high income earners claiming they broke

[BonnieHalfElven]

People like this need to get together with someone they know who makes $50K, and let that person tell them what to cut. When you make this much, people sometimes lose a grip on what's necessary and what's a luxury.

[saribrown]

It was so pity of him to blame his son’s 200 bucks football 🤦🏻‍♀️

[tonysteel]

“Two-hundred dollars isn’t your problem man!”

[LittleMissRockChalk]

Even in NYC, that’s not an income problem. 25 credit cards is my personal nightmare.

[MrJeffinLodi]

How does this guy earn 220K? He doesn't seem to have a clue.

[sunset]

DAVE DID NOT ASK HOW MANY COFFEES, MEALS OUT - THIS FAMILY DOES.
LET ME GUESS : E.V.E.R.Y. S.I.N.G.L.E. D.A.Y.

[vanvanzant]

Yeah, I heard the kid's football excuse because I used the same type of excuse. I would point the finger at the little stuff and not my big problems. 25 credit cards??? I bet 23 are max'd out. Like Chris said, you have to get MAD at your debt. Being simply irritated won't get you anywhere but deeper in debt.

[carolt]

He has two full-time jobs. One is his regular job and the other is juggling 25 credit card payments. I can't even breathe just imagining it.

[mountiescorner]

Not enough effort there.. we have a household income of 220k
And we’ve been able to pay off 55 grand in last 10 months. And I still feel like we could have done better, except we cash flowed a 10k wedding and 5k honeymoon in the meantime.. so I guess you can say paid off 70k
But still
Buckle down and get it done, get focused
Budget yourself, sacrifice now to live better down the road
My goal is to be debt free by January 2019.
45 k to go!

[joelsilverman]

"I make 220k a year and have no common sense"
in his defense he did have to dish out $200 for his kids football..

[jg-xxoh]

Wow this guy has problems 220k People living on 30k year are becoming millionaires ! Love the voice

[mia]

Chris’s side job should be voice-overs & audio books 😩

[-amanda-thestepcounter]

I think people have to go through the stages of grief before they start addressing their debt for real. At least I know we did. I think this man is still somewhat in the denial stage. He feels like he can’t really change it. You have to push past this to really acknowledge, formulate a plan, and systematically attack the debts 1 at a time. You can do this Frank! Like Chris said “get mad!” 😡😡😡

[shanellewarner]

Dave points about how people don't have a debt problem we have a money problems is to true. Most people are in debt because of wasteful spending . And I agree with Dave on how credit cards are the killer because when you have actual money you have a visual of how much you can spend . But when you have a credit card you have no limit on how much money you can spend until you run all your money out of your account . And the man making that much money if he and his family are willing to cut back for year or two he could be out of debt .

[iStorm-myfp]

Omg 200k income 166k debt... Do the math!!!! Why does he have 14k in personal loans, that's 2 weeks income for this guy!!!