Living Paycheck-to-Paycheck After a Breakup ($52K Car Debt)

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Ramsey Network

Self-improvement, Education, Investing, Business

4.6 • 682 Ratings

🗓️ 5 July 2024

⏱️ 7 minutes

🔗️ Recording | iTunes | RSS

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Transcript

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0:00.0	Brought to you by the Every Dollar app.
0:04.3	Start budgeting for free today.
0:06.7	I am drowning.
0:09.7	Paycheck to paycheck is a nice way of putting it.
0:14.5	I own a home.
0:16.0	My biggest, I guess, mistake is an auto loan.
0:21.1	I'm about 20,000 upside down on it.
0:24.9	How'd that happen?
0:27.0	Well, I purchased the vehicle about three years ago when I was making significantly more money.
0:33.8	Okay.
0:34.6	A recent and abrupt breakup with who I bought my house with had me because I drive
0:43.3	truck and I did drive long haul over the road and when the breakup happened, I switched
0:50.9	driving positions to a local job.
0:54.5	Mm-hmm.
0:55.4	And so I'm making roughly, I'd say conservatively, about $4,500 a month.
1:03.2	$4,500 a month.
1:04.3	$4,500 a month? Okay.
1:04.8	That's your take-home pay?
1:07.1	That's take-home after taxes, yeah.
1:09.3	Okay.
1:10.1	What other debt do you have have so you've got this car
1:12.7	your 20,000 upside down on and what do you owe on it by the way um 50 52,000 yikes and yeah
	...

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