A Past Gambling Problem Is Haunting His Financial Future

The Ramsey Show

Ramsey Network

Business, Education, Investing, Self-improvement

4.6 • 36.7K Ratings

🗓️ 5 November 2025

⏱️ 126 minutes

🔗️ Recording | iTunes | RSS

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Summary

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Transcript

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0:00.0	Brought to you by the Every Dollar app.
0:07.2	Start budgeting for free today.
0:14.0	Normal is broke and common sense is weird.
0:17.1	So we're here to help you transform your life.
0:20.2	From the Ramsey Network and the Fairwinds
0:21.9	Credit Union studio, this is The Ramsey Show. I'm George Campbell, joined by bestselling
0:27.1	author, Dr. John Deloney, and we're taking your calls at AAA 8255-225. We're here to help you
0:33.9	take the right next step for your life and your money. Rob is in Kansas City. What's going on, Rob? How can we help today? Yeah. Hi, George. How are you doing this afternoon? Great. What's going on with you? I'm doing all right. Long-time listener, and I figured it'd be time to give you guys a call. I'm in an interesting situation here, and I'm
0:56.4	kind of pushing back. So a couple of my best friends are very good with financials. I would say I
1:02.2	trust them. And my situation here, and I'm looking for your advice, is that I owe $8,000 on a credit card, and that stems from a gambling issue that I had years
1:14.9	ago that is no longer a problem. I balanced transferred that money to a 0% interest card for 15 months.
1:22.5	I have $20,000 in cash and savings. I have a truck payment i drive a f-150 raptor used i owe
1:30.7	twenty eight thousand dollars on the truck i make roughly a hundred thousand dollars a year and i'm
1:37.0	26 years old so the question here and what my friends are advising me to do george is for for me to take the $20,000 that I have in cash
1:46.5	and put all $20,000 towards my truck and my credit card debt.
1:53.4	And the pushback that I gave to them, George, is that I don't want to completely wipe out my cash
1:59.8	that I have on hand in case of an emergency. And baby step number one is to save $1,000. So just wanting to see what your thoughts are on that. Thank you, George. Wonderfully put. Okay. And so you don't agree with your friends. And in turn, you don't agree with us, which is fine. You know, you can hang
2:18.1	on to the debt as long as you want and hang on to the emergency phone as long as you want.
2:21.7	What we have found is that people generally get comfortable with their debt when they have a pile of
2:26.7	money and savings. And so it's actually psychologically going to take you longer to pay off
2:31.1	the debt because you don't feel the fire that is actually
2:34.6	happening in your backyard right now. And so I think if you put 19 of that 20 toward the debt,
	...

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