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The Ramsey Show Highlights

I Bought A Business and Now I'm Living Paycheck-to-Paycheck

The Ramsey Show Highlights

Ramsey Network

Business, Investing, Education, Self-improvement

4.5839 Ratings

🗓️ 9 April 2026

⏱️ 10 minutes

🧾️ Download transcript

Summary

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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. I'm 28 and I have about

0:08.9

$375,000 in debt. $375,000? Is that include a mortgage? Yes, yes. The mortgage is about $120-ish.

0:19.9

Oh, okay. Dang. Okay, so what's the rest of the debt? The rest of the $250,000? Like $192,200 is an SBA loan on my business, which is my full-time income.

0:35.2

Is it profitable?

0:39.8

That's why I'm calling you guys.

0:41.0

Okay.

0:42.4

Oh, that's not good.

0:44.6

So when I purchase my... If we're your only hope to make this business profitable, who's, what's the business?

0:50.2

I'm a small distributor for a snack company.

0:53.4

I deliver to big box grocery stores.

0:56.5

Okay, what was the loan for?

0:58.8

The loan was for the acquisition of the business

1:02.1

that I bought from the last individual that owned it.

1:04.7

Oh, okay.

1:05.8

Was it profitable when you bought it?

1:08.2

Yes, sir.

1:09.0

Okay.

1:10.7

So what's going on now with it?

1:13.1

So basically, how do I word this?

1:18.6

So basically the last owner of it, he was doing about, it's 100% commission.

1:25.8

He was doing about $15,000 a week in sales, so he was taken home about's a hundred percent commission um he was doing about 15 thousand dollars a

1:28.2

week in sales so he was taken home about twenty two hundred dollars um and since then all of the

...

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