$250,000 In Debt and Can't Agree On How To Get Out Of It

The Ramsey Show Highlights

Ramsey Network

Business, Investing, Education, Self-improvement

4.5 • 839 Ratings

🗓️ 9 January 2026

⏱️ 9 minutes

🔗️ Recording | iTunes | RSS

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Transcript

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0:00.0	Brought to you by CHO, a budget-friendly faith-based alternative to health insurance.
0:07.6	CHMinistries.org slash budget.
0:10.5	I've stumbled against some obvious decisions that's led me into about a 250,000 in consumer debt
0:16.7	that has left me stumped on how me and my significant other can make headway to get this
0:23.4	taken care of in a short amount of time or as quickly as possible. And it just seems like we run
0:28.3	into a brick wall about beliefs on how we're going to do that.
0:32.8	What's a lot, dude? I'm sorry. What's it on? Break it down for me. The 250s on what?
0:38.4	So we have, we have, uh, I have a 401k loan that has about 21,000 in it. We have student loans
0:46.6	in around 80,000. We have a car that's around 36. And then we have legal fees, things that,'ve both had to acquire over the course of a few
0:57.9	years. It's around 20,000. And then we did purchase a house and we've added some debt there
1:05.9	as far as just furniture and appliances and things that we're trying to get off. And that's the
1:09.8	lowest hanging fruit of around eight.
1:12.6	Okay.
1:13.6	We're looking around 200, $250,000 that's just sitting out there and then on top of that
1:19.6	is I have a child with a former relationship and that one takes out a huge chunk of our
1:26.6	available money.
1:28.6	What's your household income?
1:31.5	So we sit around before taxes, well, about $200,000, but if you take out child service or child payments and things like that, it's around 175.
1:42.8	So we bring home after taxes around 11.
1:49.6	Okay.
1:50.8	And significant other.
1:53.5	What's that mean?
	...

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