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The Ramsey Show Highlights

Use A HELOC To Save Our House?

The Ramsey Show Highlights

Ramsey Network

Self-improvement, Education, Investing, Business

4.6682 Ratings

🗓️ 4 July 2025

⏱️ 9 minutes

🧾️ Download transcript

Summary

💵 Start your free budget today. Download the EveryDollar app!⁠⁠⁠ Did you miss the latest episode of The Ramsey Show? Don’t worry—we’ve got you covered! Get all the highlights you missed plus some of the best moments from the show. Watch entertaining calls, Dave Rants, guest interviews and more! Next Steps: 📞 Have a question for the show? Call 888-825-5225 weekdays from 2–5 p.m. ET or⁠⁠⁠ send us an email⁠⁠⁠. Connect with our Sponsors: Learn more about⁠ ⁠⁠Christian Healthcare Ministries⁠⁠⁠ Get 20% off when you join⁠ ⁠⁠DeleteMe⁠⁠⁠ Use promo code RAMSEY for 18% off at⁠ ⁠⁠The Nokbox⁠⁠⁠ Get started with⁠ ⁠⁠YRefy⁠⁠⁠ or call 844-2-RAMSEY Visit⁠⁠⁠ Zander Insurance⁠⁠⁠ for your free instant quote today!  Explore more from Ramsey Network: 🎙️⁠ ⁠⁠The Ramsey Show⁠⁠⁠   🧠⁠ ⁠⁠The Dr. John Delony Show⁠⁠⁠ 🍸⁠ ⁠⁠Smart Money Happy Hour⁠⁠⁠ 💡⁠⁠⁠ The Rachel Cruze Show⁠⁠⁠ 💰⁠ ⁠⁠George Kamel⁠⁠⁠ ⁠⁠⁠🪑 Front Row Seat with Ken Coleman⁠⁠⁠ 📈⁠ ⁠⁠EntreLeadership⁠⁠⁠ ⁠⁠⁠Ramsey Solutions Privacy Policy Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

brought to you by the every dollar app start budgeting for free today so about two weeks ago

0:08.3

my husband lost his job oh that's so scary communication issue which is um employer who's also the

0:16.9

owner of the company it's a very small company and he's been working with him for over 15 years.

0:24.4

And he got fired over text.

0:26.9

Wow.

0:27.9

I make decent money, but we don't have any savings.

0:32.7

I have a 401K.

0:35.3

But our expenses alone are about $5,000 a month, and it's just not enough to cover all

0:43.9

of our expenses with just my salary.

0:47.1

And I'm looking at getting a home equity loan, not a line of credit, but a loan to hold us over and consolidate some debt until he can find some other employment.

1:00.9

How much debt do you guys have?

1:02.2

It's not going to be anymore, of course.

1:04.7

I have about 20,000 in credit cards.

1:09.2

There's two car loans. One is about 18,000, and the other one's almost

1:16.3

paid off, so there's maybe $1,000 left on that vehicle. Okay, any other debt?

1:24.4

Three 401K loans that come out of directly out of my paycheck, and that's about $400 a month,

1:31.2

and that's about $26,000.

1:33.2

Okay.

1:34.0

So this problem started long ago.

1:37.4

Even with two incomes, you guys have been unable to keep up your lifestyle.

1:42.6

Yes.

1:43.3

So what's been going on beneath the surface?

...

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