We Make $300,000 and We’re Struggling

The Ramsey Show Highlights

Ramsey Network

Education, Investing, Business, Self-improvement

4.5 • 838 Ratings

🗓️ 14 August 2024

⏱️ 8 minutes

🔗️ Recording | iTunes | RSS

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Summary

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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.
0:06.0	I'm drowning and I really need help of you guys. I can explain and I start with my depth or
0:15.0	wherever you want you to start. You tell us. You said you you said you're drowning. That's that's pretty
0:21.4	aggressive. Let's start there. What do you mean by that? Me and my wife, we're making around
0:27.0	300k growth every year. We live in Canada, Vancouver. My monthly fixed cost, I can line it up for you.
0:40.3	My mortgage payment is $7,200 bucks, property tax $420, leasing instrument,
0:49.0	saxophone, $50, gym cost $150,000, groceries, $ 2,000 utility I paid 350 car loans I paid thousand bucks water
1:03.4	city cost 250 and insurance for my house and the two cars about $530.
1:13.6	So right about like 12K of my cost.
1:18.6	And what's your take-home pay every month?
1:21.6	Right now, my take home is about 8,500.
1:26.6	Why is it so, oh, okay, I thought it was combined. I got scared. 8,500. My wife... Why is it so... Oh, okay.
1:28.3	I thought it was combined.
1:29.3	I got scared.
1:30.3	No, no.
1:31.3	My wife's take home was 4K before she leave for maternity leave.
1:36.3	We have a 10-month-old baby.
1:40.3	She's not willing to go back before a year and a half.
1:44.4	So right now she's making $1,600 gross from insurance employment.
1:51.8	And I'm making $2K on the rental property that I have a mortgage helper in my house,
2:02.5	a two-bedroom that I'm renting out.
2:06.2	Okay, what are you making from the rental?
	...

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