I Make $750,000 And We're Drowning in Debt

The Ramsey Show Highlights

Ramsey Network

Investing, Education, Business, Self-improvement

4.5 • 838 Ratings

🗓️ 3 February 2026

⏱️ 10 minutes

🔗️ Recording | iTunes | RSS

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Transcript

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0:00.0	If your private student loans are in default, you're not out of options. Go to yrefi.com
0:08.1	slash Ramsey. My wife and I are a single-income family. We have two babies, a four-year-old, two-year-old, and one do next month.
0:16.6	And we recently started following the baby steps. And my question is regarding the size of our debt
0:23.7	and when exactly should we start tackling this.
0:27.3	So we have about 600,000 in student loans plus a mortgage
0:33.3	and two car leases, which after we're going to be in
0:36.5	free of them, see what are are going to get rid of?
0:39.0	How much is the student owns?
0:42.6	So, uh, 500,000 me, 100,000 for my wife.
0:47.6	Oh, wow. Okay. And then tell me about the cars.
0:52.4	So the cars are two leases, just an F-150 and an expedition.
0:56.7	What are the prices every month?
0:59.8	We pay about $800 for her car, about $600 for my, my, my, my, my. Okay, this is an expensive
1:08.3	situation.
1:09.1	I know. We may be the full listening to the plan. What's your... What is your... Yeah, I know. We may be... We may be... before listening to the plan.
1:12.6	What's your degree in for 500K?
1:15.6	I'm a plastic surgeon.
1:18.6	Good.
1:19.6	What's your income? Did we ask that?
1:21.6	Uh-uh.
1:22.6	It's about... It varies a little bit, but it's about $750.
1:26.6	Excellent. Great news.
	...

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