I Make Six-Figures but Live Paycheck-to-Paycheck (Hour 3)

The Ramsey Show

Ramsey Network

Education, Investing, Business, Self-improvement

4.5 • 38.5K Ratings

🗓️ 8 May 2023

⏱️ 39 minutes

🔗️ Recording | iTunes | RSS

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Summary

Dave Ramsey & George Kamel answer your questions and discuss: "I make six figures and live paycheck-to-paycheck", "Should we take higher-paying jobs we enjoy less to pay for our kids' school?" Moving to be closer to a job, "I enjoy my job but have an offer that pays more" Buying a car. Support Our Sponsor: Neighborly Have a question for the show? Call 888-825-5225 Weekdays from 2-5pm ET Join a Personality-led FPU class. Click here! Enter The Ramsey Cash Giveaway for a chance at $3,000! https://bit.ly/TRSgvwy Shop our bestsellers during the $10 Sale! https://bit.ly/TRS10Sale Want a plan for your money? Find out where to start: https://bit.ly/3cEP4n6 Listen to all The Ramsey Network podcasts: https://bit.ly/3GxiXm6 Interested in advertising on The Ramsey Show? https://ter.li/s64ye3 Learn more about your ad choices. https://www.megaphone.fm/adchoices Ramsey Solutions Privacy Policy

Transcript

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0:00.0	I'm
0:04.6	Live from the headquarters of Ramsey Solutions, broadcasting from the pods moving in storage
0:33.0	studio since the Ramsey show where we help people build wealth do work that they love and create
0:42.0	actual amazing relationships George Campbell Ramsey personality is my co-host today we're so glad
0:48.1	you're with us thank you for joining us triple eight eight two five five two two five
0:52.5	Justin is starting off this hour in Salt Lake City hi Justin what's up hi how's it going Dave great
1:00.2	man how can we help I'm trying to build to afford a house and I've got a business running that's
1:07.2	going about six figures this year I seem to be able to barely afford paying taxes and I'm using credit
1:14.1	to do that so you're just starting now starting to make six figures yeah this year will be the first
1:24.5	year I will cross over that are you working with the tax pro are you just ignoring the the tax
1:29.8	bills when they come what what's happened here that you've used credit to pay for it well estimated
1:35.9	tax payments are every three months and when I owe taxes I get a little nervous about it so I
1:43.3	just pay you what I can with my credit women are you self employed yeah I'm self-employed and I
1:53.6	got a part-time job just to cover personal expenses other stuff I guess I feel yeah so you're making
2:02.2	taxable income of a hundred thousand dollars a year yeah okay all right well I mean you're
2:11.5	quarterly estimates should be no more than a fourth of your net profit on your business how much
2:17.5	of the hundred thousand is net profit on your business about 50 thousand of it like half and then
2:24.7	the other half is your part-time job well the part-time job is only about a four of the where's the
2:34.0	other forth coming from well so I've got about a hundred thousand coming from the business and then
2:43.4	only about 30 thousand coming from my part-time job okay net profit on the business is a hundred
2:50.3	grand no net profit would be about 50 thousand so that adds up to 80 though it would be your income
2:57.7	you said 30 from the part-time job 50 from the business so where's the other 20 coming from
	...

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