My Credit Card Payment Is Half My Income

The Ramsey Show Highlights

Ramsey Network

Investing, Self-improvement, Education, Business

4.5 • 840 Ratings

🗓️ 31 October 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.
0:06.6	So I'm having a bit of a dilemma. Excuse me. I'm a little nervous.
0:10.1	It's okay.
0:11.7	My fiancé and I, we get married next week on Friday.
0:15.7	Congratulations.
0:17.3	Coming up.
0:18.7	Yes, very soon. We are excited about that, but I am still in the mindset of my debt,
0:24.7	his debt sort of thing. My dilemma is I'm having a dilemma with using my $800, I'm on baby
0:35.5	step one to throw at my credit card that I am behind on.
0:40.6	And my minimum is half of my take-home pay.
0:45.9	So it's half of what I make in a month.
0:48.3	That's what my minimum is.
0:49.8	And that is the only card.
0:51.0	So what is your minimum?
0:53.1	That's 2734.
0:55.8	What do you owe on this credit card?
0:58.7	13,000.
1:01.1	And you have a $2,700 payment on $13,000?
1:06.7	Yes, I fell behind for a few months.
1:10.2	And then it's just interest added on and it's becoming unbearable.
1:19.3	Oh, that's not the normal minimum payment. It's all the back payments.
1:24.1	Yes. It's normally around 300 or 400. Oh, that sounds more like it. Okay. Yeah. All right. So. And you bring home, what, $5,000, $6,000 a month?
	...

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