How Can I Pay Off $60,000 Of Debt Making $60,000?

How Can I Pay Off $60,000 Of Debt Making $60,000?

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• The Ramsey Show (Highlights):

[scottreynolds]

Now that I'm debt free, I have tortillas with my beans and rice!

[DanielIles]

Dave is out here saving people from debt like some kind of sitting batman

[skterman]

Dave should make a rice and beans, beans and rice cookbook I would buy it

[CharlieZablan]

People need to stop looking at how "good" or "small" the monthly payments are and look at the overall total. Delayed gratification, people!

[chrisrush]

You’d be amazed what building a budget and making lifestyle changes can do when it comes to getting out of debt and getting the ball rolling.

[Magclyfe]

@3:24 "But I have it on a 7 year loan" lol. That's when you know you can't afford the vehicle.. 😂😂

[DanielRizza]

I don’t follow these guidelines to a tee but having these snippets in my brain on a regular basis truly help keep me focused financially. Thanks!

[blackcaptainfalcon]

When you wanna put seasoning in your Beans and Rice but it's out your

[NickPeitsch]

It might take 2-3 year, but it’s totally possible to pay that off with determination!

Literally, save as much as possible (40-50% of income) and use it to pay off the debt 👍

[GenExDividendInvestor]

Sell the car, get something cheap. Then focus on that student loan!

[jerrygee]

Most people with an average amount of student loan balances are “repaying” them on a income based repayment or another plan that gives them the lowest payment possible. Ask them what car they’re driving and it’s usually 50-100% of their annual income; that doesn’t include ridiculous mortgage and credit cards. They complain about having student loans even though they signed for it and got a degree.. I hope more people listen to Dave Ramsey and realize that self responsibility is a thing instead of trying to vote for a political candidate that will supposedly pay off student loans.

[harrykam]

Dave make it sound too easy... 60k/year is before taxes and who knows much her interest rate is for her student loan, credit card, auto loan. She is probably looking at 5-6 years realistically to get everything paid off.

[debtfreewithjennyb]

OMG this woman is living my life. Same thing except my debt is a little higher. Single mom, child support is not reliable to come in each month or not, I needed to hear this! Have anyone actually done FPU? Thought? $129 is a lot of money!

[ChrisInvests]

I agree Dave. I think she could be debt free in about three years but she would probably need to sell that car 🚗

[wtk]

Eat the elephant one bite at a time, along with rice and beans.

[WifeMommyFamilyJourney]

Keep working the plan.. slowly but surely!! You can do it!! It’s not easy being a single mom.

[drunclecookie]

just sitting here looking for the comments that say "well, she makes $60k a year, she can pay off that $60k debt in one year!" (nevermind taxes, bills, and other cost of living expenses)

[Dr.C_Stag]

This girl sounds really sweet. I empathize with her. Single mom. Pile of numerous debt. Tough situation. Glad Dave enrolled in her Financial Peace. She needs a support group because obviously baby daddy isn’t involved. 😑

[joannadiabe]

Dave I love you. I follow you but she is a single mom to me two years is too short, I will give her at least four years. She has to spend time with her child and be there for her child. I would say four to five years. If she were single no child, yes but she has a child.

[personalfinancedeclutter]

I have noticed most of the calls in recent days have been about student debt. *College is pushed on to people and students are encouraged to take on more debts with no job prospects.* I'm worried that tax payers may have to bail out these lenders just like auto and big banks bail out as most of the loans seem unrecoverable.