He Makes $200,000 But Still Has To Live Paycheck-To-Paycheck

The Ramsey Show Highlights

Ramsey Network

Business, Investing, Education, Self-improvement

4.5 • 839 Ratings

🗓️ 11 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.
0:07.7	CH Ministries.org slash budget.
0:10.4	I make about $200,000 a year, and my family and I are living paycheck to paycheck.
0:15.2	We're on baby step two, and I'm just wondering if there's anything I can do to help jumpstart our process of paying off our debt.
0:22.2	Where do you think all that money is going?
0:25.3	It's all payments. It's all consumer debt. And it's all a bit overwhelming. I'm sick and tired of
0:32.0	being sick and tired, if you know what I mean. So, okay. So how much debt do you have, not counting
0:36.1	your house? About $100,000.
0:39.1	Okay. And what's that on? Two car payments. How much is the first car? How much do you owe on the first car?
0:47.0	20,000. Mm-hmm. Where you owe on the second car? 30,000. Okay, and what's the other 50?
0:53.2	It's credit cards and personal loans. Okay. So 50,000
0:57.9	and credit cards and personal loans. Was that all lifestyle, Lloyd, or did something happen that you
1:02.1	guys had to take out a loan for? It was all lifestyle. We purchased a house last year and we got
1:07.3	and over our heads with the renovations and decided it was better to fall through on it than to live in a half-finished house.
1:16.3	Okay.
1:16.8	So it's finished now?
1:19.0	Close to it.
1:19.8	I've got one more bathroom.
1:21.0	I've got to finish.
1:21.6	It's about halfway through the remodel.
1:23.7	Okay.
1:24.6	And how much is your house payment?
	...

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