I'm In $147,000 of Debt And Only Make $1,500 A Month

The Ramsey Show Highlights

Ramsey Network

Business, Education, Investing, Self-improvement

4.5 • 839 Ratings

🗓️ 12 December 2025

⏱️ 8 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.
0:06.7	So I have a business and I'm contemplating on what I should be next because I'm also $147,000 in debt.
0:14.1	And that's including credit cards, student loans, and a car payment.
0:17.9	Okay.
0:18.5	So I want to know if I should sell a business for what I think I'd give
0:23.3	value for and then start fresh and use that lump sum of money to attack like the debt.
0:29.2	What kind of business are you in? It's a printing business, so merchandise. What would cause you to sell the business versus
0:40.7	using profit from the business to pay down the debt? I think it's just because I'll collect
0:48.6	the lumps of money and like the business right now is kind of, you know, fluctuating. It's up and down.
0:55.1	And I'm also alone in it.
0:56.9	So it's a lot of my time where I feel like if I could change the...
1:01.2	If you didn't have debt, Miguel, would you stay in this business?
1:06.1	Or would you still want out?
1:07.4	Yeah.
1:08.7	You would stay in.
1:09.5	I'll potentially stay in the business.
1:10.7	Yeah. Okay. Yeah, because I look at this as, I mean,
1:15.0	because how much would you sell it for? How much could you get out of it? Minus all of your
1:20.3	liabilities and everything? About 30 grand. How much are you making off of it every year?
1:28.6	How much are you bringing home?
1:31.7	So this is actually like my first year in it.
1:35.0	So I'd know at the end of the year, but roughly after everything, about $1,500 a month.
	...

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