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The Ramsey Show Highlights

"I'm In A Hole With Payday Loans"

The Ramsey Show Highlights

Ramsey Network

Business, Investing, Education, Self-improvement

4.5839 Ratings

🗓️ 20 December 2025

⏱️ 7 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've gotten myself into a

0:08.2

pretty big hole with payday loans um totally in about 3 500 um you know the APRs on them are all

0:17.7

500 percent or so yep yeah i took them out because I got laid off in August and I didn't have a good enough credit

0:27.6

score to get a loan to get me help with rent and everything.

0:31.6

And I'm starting a new job in about three weeks.

0:35.6

And in the meantime, I've been working a lift and making about

0:39.9

800 or so a week. And basically all of my money just goes to those payday loans and basic

0:47.4

living expenses. And I just really want to get out of this cycle. What's the new job pay?

0:59.0

It'll be 63 plus some bonuses, so probably about 70. That's good. What else can you do for the next three weeks other than Lyft? That's the thing. I don't know. I'm

1:08.2

already doing 10-hour days, five, six days a week.

1:13.1

So you're making a dollar an hour. What else can you do?

1:17.6

Do you have a lawnmower? Can you go cut grasses and trim hedges and rake leaves and detail cars?

1:25.9

Can you do something like that where you can set a higher rate?

1:29.5

Yeah, so I've been looking on Craigslist and Facebook for just general odd jobs.

1:34.9

And the only thing that I've been able to get was I helped this guy move,

1:38.8

move all this furniture and stuff for like $200.

1:42.4

Mm-hmm.

1:43.1

I mean, you know, it's not really the best area, but that's something that I would be qualified for. What about, I'm just, I'm spitballing with you. What about, it's holidays? What about, like, hanging up lights? People need help hanging up lights. What about something like that? I'm just trying to think. FedEx, you can throw boxes. Uh-huh. FedEx and UPS are hiring right now.

2:01.0

And they're paying. lights. What about something like that? I'm just trying to think. FedEx, you can throw boxes. FedEx and UPS are hiring right now.

2:04.6

And they're paying more than you're making with Lyft because you're making

2:07.1

800 coming in, but you got gas and wearing tear on the car coming out of that.

2:12.1

Yeah, yeah.

...

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