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The Ramsey Show Highlights

"You're Good At Losing Money"

The Ramsey Show Highlights

Ramsey Network

Self-improvement, Education, Investing, Business

4.6682 Ratings

🗓️ 8 July 2025

⏱️ 10 minutes

🧾️ Download transcript

Summary

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Transcript

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0:00.0

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0:06.0

So I've been in the sales industry for a long time and I've been pretty much, I've been pretty good with my money.

0:15.0

And about two years ago, my income noticeably jumped up quite a bit.

0:23.7

And a bunch of my employees, kind of in the sales industry,

0:28.1

just had the high leverage, high debt to grow your wealth kind of mindset.

0:32.7

And long story short, I ended up getting my primary residence,

0:35.7

and then a year later bought a rental property.

0:40.1

And then I got a new car. And I'm just kind of figuring out what the best way to pay all that off is because I'm a recent fan of yours kind of started

0:45.8

listening like summer of last year and just kind of want to get out of the debt life.

0:51.3

Okay, so you were working a plan that's the polar opposite of what we teach people to do, and

0:58.1

now you want to change direction and go back the other way?

1:01.6

Correct.

1:02.7

Okay.

1:03.2

So the way you got into this was buying a bunch of crap you couldn't afford, won't you sell it?

1:07.9

So the, I bought, well, I paid off my car. So the car is completely paid off. And then I just

1:13.2

have my primary residence and then just my rental property. And my, my rental property is rented

1:19.0

out. And I'm just curious, um, because what do you owe on? The rental property is 300,000. And then

1:26.5

my primary residence is 600 and what are you making

1:29.4

I'm making around 250,000 a year okay so you can um you're making good money so um you have any debt

1:39.1

other than these two items uh no i have just like a thousand on credit card, but I pay it off every month.

1:45.5

Okay. All right. Well, I mean, I would get on a, are you married? Yes, with two kids.

1:52.3

Okay. Good. Good. Okay. Um, well, I, um, I mean, what we, what George and I would teach you is just to, uh, let's live on beans and rice and let's pay off the,

...

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