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The Ramsey Show Highlights

Sell My Land To Pay Off Debt?

The Ramsey Show Highlights

Ramsey Network

Self-improvement, Education, Investing, Business

4.6682 Ratings

🗓️ 11 January 2025

⏱️ 8 minutes

🧾️ Download transcript

Summary

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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.

0:06.5

Hey, so I'm 30 years old.

0:08.5

I'm married.

0:09.2

You've got three kiddos.

0:11.1

And me and my wife right now are a little over $100,000 in debt.

0:16.3

On what?

0:17.7

And, yeah, but, yeah.

0:20.0

On what?

0:20.8

$100,000 in debt on what uh so we have we

0:25.1

bought a piece of land uh that's about 60 60 to 65 thousand dollars we still owe on that we have a

0:32.1

car pigment um which is we have about 25 000 left on that and then i have student loans which is about 20, $25,000 left on that. And then I have student loans, which is about $20,000.

0:41.0

Okay, what do you make?

0:43.6

So I make $70,000 to $75,000.

0:46.3

Cool.

0:47.3

And you don't live on the land.

0:48.6

You just bought the land.

0:51.1

So we still, yeah, we're still paying on the land.

0:53.9

But you don't live on it? No, sir. No, currently we're still paying on the land but you don't you don't live on it no sir uh no

0:57.3

currently we're living with uh my uh wife's grandparents and a one bedroom uh barn house and so we're

1:04.4

just living there uh we're literally living on about a thousand dollars a month and the rest

1:09.5

we're just stalking away towards debt and trying

...

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