He's Made Over $100,000 This Year And Still Can't Pay Off Debt?

The Ramsey Show Highlights

Ramsey Network

Business, Education, Investing, Self-improvement

4.5 • 839 Ratings

🗓️ 4 December 2025

⏱️ 9 minutes

🔗️ Recording | iTunes | RSS

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Transcript

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0:00.0	Brought to you by the Every Dollar app. Start budgeting for free today. So I moved out to Ohio
0:08.0	exactly a year ago with the goal to start clearing my debt away. About $65,000 in debt. It's a year
0:15.8	later and I'm still pretty much in the same situation and I don't understand why I pay rent now,
0:22.9	and I had to furnish my apartment when I got out here.
0:26.0	But it's just the math isn't adding up for me.
0:28.9	How much do you make?
0:31.6	At my new job, I make about $100,000 on a good year,
0:36.0	assuming no layoffs.
0:38.2	Okay, so in the past year, $100,000 has flowed through your hands in the last year,
0:43.2	or at least that's the gross pay.
0:45.8	Yes.
0:46.8	Are you doing a pretty detailed budget, Lance, month to month?
0:51.3	I mean, about six months in, I really started cracking down on it because I saw that
0:56.6	I wasn't gaining much traction. Yeah, yeah. I mean, how much is your rent a month? Rent's not too bad.
1:04.1	It's $1,450. Okay, yeah. Are you taking home five or six grand a month?
1:12.3	A little bit more, actually. It's about $2, yeah. Are you taking home five or six grand a month? A little bit more, actually.
1:14.3	It's about $2,000 a week.
1:17.2	Okay.
1:17.8	That's great.
1:18.8	So where is the rest of the money going?
1:22.9	Well, like I said, I pay rent now before I didn't pay rent when I looked back home in New Hampshire.
1:30.4	And then I had to furnish my apartment.
	...

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