“I’m $147k In Debt And Only Make $1,500 A Month”

The Ramsey Show

Ramsey Network

Business, Education, Investing, Self-improvement

4.6 • 36.7K Ratings

🗓️ 20 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. Start budgeting for free today.
0:13.6	Normal is broke and common sense is weird. So we're here to help you transform your life from the Ramsey Network in the Fairwinds Credit Union Studio.
0:23.2	This is The Ramsey Show.
0:24.7	And I'm Rachel Cruz hosting this hour with Jade Warshaw.
0:28.2	And we're answering your question.
0:30.1	So give us a call at AAA-8-25-2-2-25.
0:34.9	And we'll be talking about your life, your money, career relationships, anything and everything, we are here for you.
0:41.3	So let's start off in Boston with Miguel. Hi, welcome to the show.
0:47.8	Hey, how's it going? We're doing well. How can we help today?
0:52.5	So today I wanted to ask, so I have a business and I'm, I'm contemplating on what I should be next because I'm also $147,000 in debt.
1:02.0	And that's including credit cards, student loans, and car payment.
1:05.8	Okay.
1:06.4	So I want to know if I should sell a business for what I think I'd give value for and then start fresh and use that lump sum of money to attack like the debt.
1:17.1	What kind of business are you in?
1:20.3	It's a printing business, so merchandise.
1:23.5	What would cause you to sell the business versus using profit from the business to pay down the debt?
1:34.3	I think it's just because I'll collect the lumps of money and like the business right now is kind of, you know, fluctuating.
1:40.8	It's up and down.
1:42.9	And I'm also a loan in it it so it's a lot of my time
1:46.1	where I feel like if I could change the if you didn't have debt Miguel would you stay in
1:52.0	this business or would you still want out yeah you would stay in I'll potentially stay in the business
1:58.5	yeah okay yeah because I look at this as I mean I mean, because how much would you sell it for?
	...

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