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The Ramsey Show Highlights

"I Don't Think You Understand How Bad This Is"

The Ramsey Show Highlights

Ramsey Network

Self-improvement, Education, Investing, Business

4.6682 Ratings

🗓️ 16 May 2025

⏱️ 10 minutes

🧾️ Download transcript

Summary

📈 ⁠Are you on track with the Baby Steps? Get a Free Personalized Plan⁠ Did you miss the latest Ramsey Show episode? Don’t worry—we’ve got you covered! Get all the highlights you missed plus some of the best moments from the show. Watch entertaining calls, Dave Rants, guest interviews, and more! Next Steps ⁠💵 ⁠Start your free budget today. Download the EveryDollar app! - https://ter.li/446mhy 🏘️ Find a Ramsey Trusted Real Estate Agent - ⁠https://ter.li/ko6rqk⁠ 📞 Have a question for the show? Call 888-825-5225 Weekdays from 2-5pm ET or⁠ click here!⁠ Listen to more from Ramsey Network 🎙️⁠ The Ramsey Show⁠  🧠⁠ The Dr. John Delony Show⁠ 🍸⁠ Smart Money Happy Hour⁠ 💡⁠ The Rachel Cruze Show⁠ 💰 ⁠George Kamel⁠ ⁠🪑 Front Row Seat with Ken Coleman⁠ 📈⁠ EntreLeadership⁠ Learn more about your ad choices. ⁠https://www.megaphone.fm/adchoices⁠ ⁠Ramsey Solutions Privacy Policy Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Brought to you by the Every Dollar app. Start budgeting for free today.

0:06.6

My husband and I started a business here just the end of last year, and we're making pretty good money,

0:12.7

but it's not quite enough to make ends meet. And at this point, we've put pretty much everything

0:18.1

we have into it. And it has a potential, but we're just trying to figure out some more ways to bring money into the business to try to increase that to make ends meet.

0:27.3

What kind of business?

0:28.9

It's an indoor baseball training facility.

0:32.2

Okay.

0:32.6

And you said you've sunk everything into it.

0:34.6

What does that mean?

0:36.1

Pretty much.

0:36.8

We started completely debt-free.

0:39.1

We pulled an SBA loan, ended up being about $3.25. We put, we had a very large chunk of money in the bank

0:47.0

when we started. Part of that was going towards our security deposit. The other we kept was about

0:51.6

$40,000 in the bank. Now we're to the point where we have

0:55.3

about $30,000 in credit card debts. We've used my husband's 401k, and our entire savings is put into it as well.

1:04.9

There were some factors that came up that we weren't really expecting for, and that money ended up going

1:09.2

towards the business. Was the business ever profitable to where you weren't needing to go into debt for it?

1:15.7

Well, I mean, well, we're not really behind yet on the business.

1:21.1

I mean, the money that we spent on credit cards and stuff was actually to get the business

1:24.6

open and started.

1:26.1

We've brought in about 52,000 since we

1:29.1

opened December, like mid-December. So it's making money, but I mean, our lease payment's

...

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