I Make $70,000 And Don't Know Where My Money Is Going!

David and his wife bring in a combined $70,000 but are sometimes having a hard time just making the minimum payments on their debt. He calls Dave for help on figuring out where his money is going.

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• The Ramsey Show (Highlights):

[DanielIles]

"I have a budget"


*"I don't know where my money is going"* 🤔

[MrJay]

He is lying he is not doing any written budget.

[InvestingHustler]

I have a feeling they’re holding something back 🤔

[David-woun]

He just wants Dave to gift him the financial class.

[JOHNCENAisDOMO]

Caller: “There’s some months where expenses come up and we can’t make our minimum payment”

Translation: “We don’t want to stop going to restaurants, movies, the mall, etc.”

[nephetula]

People these days just don't think about little expenses. Two cups of a Starbucks' beverage a day is almost $3000 a year. You and wifey going out to a restaurant only once a week is over $3000 a year. And $250 a month for phones and cable TV is also $3000 a year.

Little expenses most people don't think of mount up fast!

[PriscillaPretzley]

Dude and his wife do not have a written budget. Why are you making repairs when you're paying rent at an apartment?!

[charlesyoung]

If you don't know where your money is going, believe me it's gone

[ErkFX]

They probably go out to eat every day, constantly buying new and expensive clothes, going on expensive vacations, going out and doing a ton of things together that are (you guessed it) expensive... Can’t budget the things you do on impulse.

[Theman]

With nothing coming out of their paychecks, that’s $4200 a month after taxes. And they are having problems with paying $400 a month for debt? Something else is going on and not being told on

[panpluto]

"No vacation"
They live in Ft. Lauderdale, where are they going on vacation, Ames, Iowa?

[cvgdwrq]

They’re NOT using a written budget even though he said they were. And they’re blowing money on any and everything they want. He’s lying and not admitting it to Dave in hopes he can create a new something to fix his problem.

[chrisbaker]

My advice buy a $1 note book and write everything you spend in the note book, then review it.

[warwagon]

Just did my Monthly Quickbooks today (Now i'll only have a few days to enter at the end of the month), balancing my account and I can tell you I spent $111.44 on personal and I can list every item I bought.

[billgateskilledmyuncle]

Straaaange man, he's holding something back. It's like daddy Ramsey is sniffing around and he's getting nervous.

[ransom]

Wishing you well David! So many people have no idea how to handle money due to lack of education. You're asking the right questions and I hope this journey will be the wake up call you need.

[Retiredmco]

It's called a budget!!!! Every dollar has to be accounted for period!

[raulgolfs]

Ah man this hit a cord with me. I was in a similar boat. making $50, 000 in $40, 000 in debt 6 credit cards, 3 loans and a student loan. Baby steps work! Documenting my journey trying to stay accountable! Appreciate you guys at Ramsey solutions for creating these micro content from the show! Really motivates us when baby step 2 is killing us.

[brianmcg]

Keep it simple
Don’t blow it
Count yo money!

[rm]

Is this a joke? $400 for a minimum payment.. no kids? So a part time job is too much— wait some tables and pay it off!!! Dave is right on this one for sure. This seems like they are both living above their means!