What Is Considered a "Good Income"?
The Ramsey Show Highlights
Ramsey Network
4.6 • 682 Ratings
🗓️ 27 January 2024
⏱️ 5 minutes
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| 0:00.0 | Brought to you by the Every Dollar app. Start budgeting for free today. Today's question comes from |
| 0:07.9 | Kelly in Ohio. I'm 23 and about a year out of ministry school with no school debt since I work for jobs |
| 0:13.3 | and cash flowed everything. So I'm totally debt free. Way to go, Kelly. I work at a professional |
| 0:18.6 | screen printing and embroidery shop and volunteer for ministry making $20 an hour. I work at a professional screen printing and embroidery shop and volunteer for ministry, |
| 0:23.3 | making $20 an hour. I work 45 hours a week at the shop, and after taxes, I'm at about $36,000 a year. |
| 0:31.6 | This is the most I've ever made, but when I listen to the show, I'm often confused at what |
| 0:34.9 | you all say is a good income. To me, this is good |
| 0:38.2 | income since I'm able to save $1,100 a month towards a down payment on a house. What are your |
| 0:42.9 | thoughts? Do I need to be worried about getting another job? Or is it about how I'm budgeting? |
| 0:48.2 | All right, a lot of questions here. First thing that comes to mind is, why do we go to ministry school? You know, if we go to ministry school and we've |
| 0:56.0 | changed our mind, fine with that. But if we went to ministry school to be in the ministry, |
| 1:00.0 | I'd want to know what the path is to ministry, and then once you get into ministry, |
| 1:05.0 | it depends on what you're doing, because people don't go into ministry to make money, |
| 1:08.0 | at least the people that are actually about ministry. So the question |
| 1:12.0 | about good income, I think it's a tad bit relative, but if you look at the income scale in the United |
| 1:18.6 | States, $36,000 is obviously on the low side. But I love your discipline, that you actually have a |
| 1:24.4 | budget, and that on that income, because you have no debt and you're |
| 1:28.3 | living on less than you make, you know, look, you're saving some pretty good money there. |
| 1:32.8 | So I don't think you need to be worried about getting another job, no. |
| 1:37.2 | But the answer to that is, what job do I go to next? |
| 1:41.4 | Because I doubt that you want to be in this screen printing and embroidery |
| 1:46.7 | business for the rest of your life. So if I was sitting with you, I'd say, what's our long-term |
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