I Tried Guessing More People’s Debt

Summary

Podcast Summary: “I Tried Guessing More People’s Debt”

Podcast: George Kamel via Ramsey Network
Host: Dave Ramsey (guest hosting)
Date: April 6, 2026
Episode Theme: Dave Ramsey takes to the streets of Nashville to play "Financial Snap Judgment," trying to guess strangers’ consumer debt based on a rapid-fire series of questions about their lives, spending, and money habits. The episode explores how people manage (or mismanage) debt, busts money myths, and illustrates practical lessons in personal finance – all with Ramsey’s trademark directness, humor, and some friendly snark.

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Episode Overview

Dave Ramsey puts his financial instincts to the test by interviewing random people on Broadway in Nashville, attempting to guess the amount of debt each person carries based on their background and choices. The episode shares real stories, reveals the variety of debt situations Americans face, and emphasizes debt-avoidance, smart saving, and honest money management.

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Key Discussion Points & Insights

1. Introducing the Street Game: Financial Snap Judgment

• Premise: Dave asks a set of smart, quick questions to strangers—about work, education, car, credit card usage, investing, and living situation—to guess their total consumer debt.
• Win Condition: He must guess within $20,000 or 20% of the actual debt number.

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2. Street Interviews: Debt Stories and Money Choices

Pipe Fitter – Debt-Free Living

• [00:40] Work: Trades, pipe fitting (sprinklers/fire protection)
• Education: No degree or formal trade school
• Cars: 2011 Jetta and 2000 GMC Sierra (old, practical vehicles)
• Credit Cards: Has one, does not use it
• Investing: Actively invests
• Housing: Rents
• Ramsey’s Guess: $0 debt
• Reality: $0 debt
• Key Insight: Avoiding debt was a conscious, active goal.
• Memorable Exchange:
  • Dave Ramsey: “You drive really old cars. You seem like a guy who's just common sense when it comes to money. Where did this come from? Was it an active goal to stay out of debt?” [01:57]
  • Pipe Fitter: “Yeah, pretty much. Active goal just to not have any debt, save as much money as I can.” [02:14]

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Young NFL Player – High Income, High Debt

• [02:40] Work: Professional football (Buffalo Bills)
• Education: No degree yet; returned to school off-season; sports communications major
• Cars: 2021 Jeep Grand Cherokee Trackhawk, 2024 Mercedes Benz GLE63S
• Credit Cards: Just one (Amex)
• Investing: Financial advisor handles it
• Housing: Rents in two locations (Lexington, KY & Orchard Park, NY)
• Ramsey’s Guess: $50,000
• Reality: ~$80,000 debt (cars, multiple rents, paying parents’ rent)
• Car Payments: ~$1,500/month
• Key Insight: High earners can accumulate substantial debt, often under the justification of building credit or "paying it forward."
• On Credit Building:
  • NFL Player: “Whenever you want to do anything in life, you need good credit.” [05:12]
  • Dave Ramsey: “You know, them is fighting words. I got a house without a credit score… It’s called manual underwriting.” [05:24]

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Marketing Professional – Smart Saver, Student Loan Debt

• [06:10] Work: Marketing
• Education: Degree in marketing (University of Rhode Island)
• Car: 2016 Toyota Corolla
• Credit Cards: Only work card
• Investing: 12% to 401k plus mutual funds
• Housing: Rents
• Ramsey’s Guess: $0 debt
• Reality: $15,000 student loans
• Salary: $70,000; wants six figures for full comfort
• Repayment Plan: Hopes to pay off in 2–3 years; Dave suggests pausing investing to be debt-free in a year.
• Notable Commitment:
  • Dave Ramsey: “Are you committing to doing this plan right now in front of me?” [08:21]
  • Marketing Professional: “You know what? Let's commit to it.” [08:24]

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Restaurant Owner – Minimal Credit Card Debt

• [08:47] Work: Owns fast casual restaurant
• Education: Theater degree, set design specialty
• Car: 2020 Toyota RAV4
• Credit Cards: Six, mostly uses Amex Gold
• Housing: Owns home
• Ramsey’s Guess: $15,000
• Reality: $5,000 (on credit card, for house-building expenses; 0% APR for 18 months)
• Notable Quote:
  • Dave Ramsey (picking up sarcasm): “Well, in that case, take all the debt you can get. Right?” [09:56]
• Income: $80-90k personally; feels $80k is needed for singles to live comfortably, over $100k for a married household, even in rural Kentucky.
• Socioeconomic Insight: “You feel like you need over 100,000 as a household to survive?” [11:14]

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Financial Analyst #1 – Debt-Free via Scholarships

• [12:34] Work: Financial analyst
• Education: Finance degree
• Car: 2016 Chrysler 200
• Credit Cards: Two, mostly uses MasterCard
• Investing: Yes; $50-60k investments (401k, CDs, high-yield savings)
• Housing: Rents
• Ramsey’s Guess: $0 debt
• Reality: $0 debt, achieved via athletic scholarships
• Financial Philosophy: Invest early, avoid debt, match 401k, and be deliberate with “fun money.”
• Memorable Insight:
  • Financial Analyst: “Having a finance degree, background, internships along the way… just invest, make sure you're not coming out of college, like, super in debt.” [13:22]

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Financial Analyst #2 – Debt-Free with Family Help

• [14:40] Work: Financial analyst at Reynolds Consumer Products
• Education: Finance degree
• Car: 2023 Jeep Grand Cherokee (gifted outright)
• Credit Cards: Two; uses Chase Sapphire most
• Investing: Yes (401k, personal accounts)
• Housing: Doesn't own or rent (possibly with family)
• Ramsey’s Guess: $30,000
• Reality: $0 debt (family paid for car)
• Reverse Interview: Asks Dave Ramsey about his own debt status, confirming he practices what he preaches.

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Dave Ramsey – Money Philosophy & Transparency

• Profession: Author, host, Ramsey personality
• Car: 2026 Tesla Model Y (fully paid)
• Credit Cards: None; only uses debit/cash
• Debt: $0
• On Credit Scores: “I don't build credit. I have not had a credit score in a while and I don't know why I would need credit at this point in life.” [16:56]
• On Homebuying: “I bought a home without a credit score… so, at that point, I'm not going into any other debt, financial obligations.” [17:06]

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Community Marketing Representative – Student Loan Repayment Journey

• [18:07] Work: Community marketing rep (Margaritaville’s Vacation Club)
• Education: No degree; left college after mother passed away
• Car: 2009 Nissan Altima (“Heltima”)
• Credit Cards: None; only uses debit
• Investing: Not yet; learning about investing/real estate
• Housing: Rents
• Ramsey’s Guess: <$5,000 in debt
• Reality: $15,000 (old college debt)
• Repayment Plan: Five-year plan, possibly sooner thanks to current job and commission.
• Practical Advice: Dave gifts him EveryDollar budgeting app premium to help accelerate repayment.

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Notable Quotes & Memorable Moments

• Dave Ramsey, on car and debt reasoning:
  “You drive really old cars. You seem like a guy who's just common sense when it comes to money.” [01:57]

• NFL Player’s misconception on credit:
  “Whenever you want to do anything in life, you need good credit.” [05:12]

• Dave Ramsey, debunking credit myth:
  “You could get a house without a credit score. A guy this successful doesn't mean worrying about building his credit. You need to be building wealth.” [05:50]

• Marketing Professional, committing to Ramsey's plan:
  “You know what? Let's commit to it.” [08:24]

• Restaurant Owner, candid on modern salary needs:
  “I live in rural Kentucky and I think you still need over 100 [thousand] to be very comfortable married.” [11:14]

• Financial Analyst, on debt-free graduation:
  “I came out of college with zero debt. So I think I was off to a very good [start].” [13:56]

• Dave Ramsey, on why he doesn’t build credit:
  “I don't build credit. I have not had a credit score in a while and I don't know why I would need credit at this point in life.” [16:56]

• Community Marketing Rep on slow and steady debt payoff:
  “I like to take things slow and make sure everything is paid off, but I'm giving myself like two, three years. Really? Okay, but five years, just in case.” [20:16]

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Key Takeaways

• Debt is Optional: Several guests proved you can avoid debt, even with modest incomes, by prioritizing savings and living simply.
• High Earnings ≠ Debt-Free: Even six- or seven-figure earners can have tens of thousands in debt, largely due to lifestyle inflation.
• Credit Myths Busted: Multiple discussions challenged the cultural belief that "good credit" is essential for financial success.
• Student Loans are the Most Common Debt: Even disciplined savers sometimes carry student debt into their mid-20s and 30s.
• Contentment & Margin Matter: Most people, even at above-average incomes, feel they need “a bit more” to be comfortable. Ramsey concludes that if you can’t learn to manage your money now, more income won’t fix the root issue.
• Practical Payoff Plans: Ramsey actively encourages listeners to tackle debt with urgency, sometimes suggesting pausing investments temporarily for faster progress.

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Important Timestamps

• [00:05-02:30] Pipe Fitter interview (debt-free, trades lifestyle)
• [02:40-05:59] NFL player interview (high income, $80k debt, misconceptions about credit)
• [06:10-08:37] Marketing professional (student loans, smart investing, commitment to pay off debt)
• [08:47-11:20] Restaurant owner (credit card debt, salary needs, economic realities)
• [12:34-14:32] Financial analyst #1 (scholarship-aided debt-free path, investment habits)
• [14:40-15:56] Financial analyst #2 (debt-free, family helped, ownership of assets)
• [15:59-17:06] Dave Ramsey answers the questions (personal philosophy, paid-off lifestyle)
• [18:07-21:37] Community marketing rep (college debt, slow payoff plan, receives budgeting app)

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Final Thoughts

Ramsey’s “Financial Snap Judgment” is more than just a guessing game – it’s a social experiment illuminating the real relationship Americans have with their money. With practical insights, myth-busting moments, and a blend of humor and seriousness, the episode spotlights the path to financial freedom: intentionality, contentment, and a relentless avoidance of debt.

Most memorable closer:
Dave Ramsey:
“If you don't learn to manage the money you're making now, you're never going to be content with the money you make. Learn to live on the average salary or below… then when you get more money, it's going to be gravy on top to help you build wealth instead of keeping up with your payments.” [21:37]

Transcript

[Dave Ramsey]

After taking thousands of calls on the Ramsey show, I've gotten pretty good at being able to clock someone's financial situation. So today, I'm on the streets of Nashville, on Broadway, to guess how much debt people have. But before I flex my psychic abilities with this financial snap judgment, be sure to hit the like button on this video. Subscribe to the channel, and big shout out to deleteme for sponsoring this mayhem. Let's. Let's get to it. Okay. We're gonna play a game called financial snap judgment. I'm gonna guess how much debt you have based on a series of questions. All right? Okay. I gotta be within 20% or $20,000.

[Pipe Fitter]

All right, sounds good.

[Dave Ramsey]

All right. What do you do for work?

[Pipe Fitter]

I'm in the trays. I'm a pipe fitter.

[Dave Ramsey]

Heck, yeah. That's what's up.

[NFL Player]

Yep.

[Dave Ramsey]

I don't know. Do you fit pipes? Yeah.

[Pipe Fitter]

So, like, sprinkler systems, fire protection, so anything. Like in the movies when, like, all those sprinklers go off when there's fires? That's what I do.

[Dave Ramsey]

Oh, you're making sure everything's connected properly, setting it all up. Love it. Okay. Do you have a degree?

[Pipe Fitter]

No, I do not have a degree.

[Community Marketing Representative]

All right.

[Dave Ramsey]

Did you go to trade school?

[Pipe Fitter]

No, I did not go to trade school.

[Dave Ramsey]

Just school of hard knocks, learned on the job.

[Pipe Fitter]

Yeah, we do have a schooling, but it's very simple. It's only about 10 hours a year.

[Dave Ramsey]

You think I could do it?

[Pipe Fitter]

I think you could do it.

[Dave Ramsey]

You overestimate my abilities, but thank you. Okay. What kind of car do you drive? Give me the year, make, and model.

[Pipe Fitter]

I got a 2011 Jetta, and I got a 2000 GMC Sierra.

[Dave Ramsey]

Oh, wow. Rocking the mo. Is it one like a work vehicle and the other is your driving car? Yeah.

[Pipe Fitter]

So the car's for work, and then I do a lot of work on the truck. It's like a nice, just kind of fun hobby truck.

[Dave Ramsey]

Okay. Love it. Do you use credit cards?

[Pipe Fitter]

No, I do not use any credit cards.

[Dave Ramsey]

You don't even have one?

[Pipe Fitter]

I have one. I don't even use it.

[Dave Ramsey]

Okay. Are you investing? Currently, yes.

[Pipe Fitter]

I do have a lot of money in investments.

[Dave Ramsey]

What's up? Okay. Do you rent or own a home right now?

[Pipe Fitter]

I rent. Rent.

[Dave Ramsey]

Okay. Okay. Oh, this is a tough one. I'm gonna go out on a limb here and guess that you have zero dollars in debt.

[Pipe Fitter]

I have zero dollars in debt.

[NFL Player]

Yes.

[Dave Ramsey]

My man. Guys, I just had a feeling, just the way he was talking. You were in the Trades. You didn't even go to school for this? You drive really old cars. You seem like a guy who's just common sense when it comes to money. Where did this come from? Was it an active goal to stay out of debt?

[Pipe Fitter]

Yeah, pretty much. Active goal just to not have any debt, save as much money as I can.

[Dave Ramsey]

What does your girlfriend think about that?

[Pipe Fitter]

I'm assuming she likes that.

[Dave Ramsey]

More money to spend on her.

[Restaurant Owner]

I'm listening.

[Financial Analyst]

Correct.

[Pipe Fitter]

Yeah.

[Dave Ramsey]

Do you like it? Does she have debt?

[Pipe Fitter]

No. No debt.

[Dave Ramsey]

This is a match made in heaven. I hope it works out for you two. I'm gonna guess how much debt you have based on a series of questions. Okay. I have to be within 20,000 or 20% to get it right?

[NFL Player]

Yep.

[Dave Ramsey]

What do you do for work?

[NFL Player]

I play football.

[Dave Ramsey]

You want to tell us more?

[NFL Player]

I play football for the Buffalo Bills.

[Dave Ramsey]

Let's go. I would be leading with that. Okay. That's fantastic. Do you have a degree?

[NFL Player]

No.

[Dave Ramsey]

Okay. Did you go to school at all?

[NFL Player]

Yes.

[Dave Ramsey]

Okay, What'd you go to school for?

[NFL Player]

Sports communications.

[Dave Ramsey]

Nice. Did you finish?

[NFL Player]

No, but I'm going back during a little bit during this off season and next.

[Dave Ramsey]

That's awesome. Way to go. Okay, what kind of car do you currently drive? Give me the year, make and model.

[NFL Player]

I have a 2021 Jeep Grand Cherokee Trackhawk and a 2024 Mercedes Benz GLE63S.

[Dave Ramsey]

Okay, this is getting interesting. Do you have credit cards?

[NFL Player]

Yes.

[Dave Ramsey]

How many?

[NFL Player]

I only got one.

[Dave Ramsey]

What is it?

[NFL Player]

Amex.

[Dave Ramsey]

Okay.

[Financial Analyst]

All right.

[Dave Ramsey]

Are you investing currently?

[NFL Player]

My financial advisor is yes.

[Dave Ramsey]

Okay, so you got an advisor now. You're making good money in the NFL. Do you rent or own a home?

[NFL Player]

I rent.

[Dave Ramsey]

I.

[NFL Player]

Okay, yeah.

[Dave Ramsey]

And where do you live?

[NFL Player]

In Lexington, Kentucky and Orchard Park, New York.

[Dave Ramsey]

Okay, so you got two places because you're traveling a lot.

[NFL Player]

Yeah, Buffalo.

[Dave Ramsey]

Oh, this is such a tough one, man. Because you said you're 22.

[NFL Player]

Uh huh.

[Dave Ramsey]

You haven't had a lot of time to go in the debt, but now you make good money. You can carry a payment and feel like you can afford it. I mean, my heart of heart says that Mercedes has got a loan on it. And so I'm going to guess that you are currently $50,000 in consumer debt.

[NFL Player]

A little bit more.

[Dave Ramsey]

Give me the number.

[NFL Player]

Around 80.

[Dave Ramsey]

Okay, I'm wrong, but I was in the ballpark. Yeah, you were there, but I wasn't close enough to get a green light that. Okay, 80 grand. Break down that debt for us.

[NFL Player]

A lot of it is just paying the loan Back on my own. The Mercedes? Yeah. That was a big hit for loan. Just all the rent. I have two rents. My parents, rent, car notes, car payments, and stuff like that.

[Dave Ramsey]

So what do the car payments add up to?

[NFL Player]

Right now, it's like $1,500 a month.

[Dave Ramsey]

Only 1,500?

[NFL Player]

Yeah. That's a lot.

[Community Marketing Representative]

Don't get me wrong.

[NFL Player]

That's a lot.

[Dave Ramsey]

But, you know, covering mom and dad's rent because you're like, hey, I made it. I want to pay it back to them for all they've done for me.

[NFL Player]

Exactly.

[Dave Ramsey]

That's a very nice thing for you to do.

[NFL Player]

Yes, sir.

[Dave Ramsey]

That's awesome. I want to know your plan to pay off the debt now that you're making the big bucks.

[NFL Player]

Saving and investing. Help. Using this to build my credit.

[Dave Ramsey]

You're trying to build credit?

[NFL Player]

Yeah.

[Dave Ramsey]

What for?

[NFL Player]

Just for life. You never know what might happen. I might want to. Whenever I want to buy a house, I need good credit. Whenever I want to buy a car, I need good credit. Whenever you want to do anything in life, you. You need good credit.

[Dave Ramsey]

You know, them is fighting words. I got a house without a credit score. Would you believe that? I didn't have any credit.

[NFL Player]

That's insane. Congrats.

[Dave Ramsey]

It's called manual underwriting. Because the bank looks at you and goes, hey, this guy makes great money. He's got a great down payment. He's doing a 15 year. Like, let's give him a loan. He's got this, and they'll give you the loan.

[NFL Player]

Yeah.

[Dave Ramsey]

You got 12 months of rental history.

[NFL Player]

Yeah.

[Dave Ramsey]

You got some utility bills, cell phone bills. You could prove that you pay on time.

[NFL Player]

Yeah, for sure.

[Dave Ramsey]

Congratulations, my man. You could do it. You could get a house without a credit score. A guy this successful doesn't mean worrying about building his credit. You need to be building wealth.

[NFL Player]

Yeah, for sure. But that comes with the saving and investing. I let my financial advisor do most of that stuff.

[Dave Ramsey]

Okay, well, thanks for hanging out with us, man. Congrats on the success. Enjoy Nashville. Pleasure. What do you do for work?

[Marketing Professional]

I do marketing.

[Dave Ramsey]

Okay, that's vague, but I like it. Do you have a degree?

[Marketing Professional]

I do have a degree in marketing.

[Dave Ramsey]

Okay. What do you drive? Give me the year, make and model of the car.

[Marketing Professional]

2016 Toyota Corolla.

[Dave Ramsey]

Dude, that thing is going to run forever. Love it. Okay. Do you use credit cards?

[Marketing Professional]

I do not.

[Dave Ramsey]

No credit card to your name?

[Marketing Professional]

Just a work one.

[Dave Ramsey]

Wow. Okay. Are you investing? Currently, I am.

[Marketing Professional]

How much do you know out of my paycheck? At least 12% goes automatically to my 401k and then I throw in here and there to a mutual fund.

[Dave Ramsey]

My God. Okay, do you currently rent or own a home?

[Marketing Professional]

I rent.

[Dave Ramsey]

Okay, here we go. Number crunching commencing. I'm gonna guess that you have zero dollars in debt.

[Marketing Professional]

That is wrong.

[Dave Ramsey]

Oh, how much is it?

[Marketing Professional]

I think it's about 15 in student loans.

[Dave Ramsey]

I should have get those marketing degrees will get you, but man, you had me in the first half. We weren't defeated, but they had us. What did the degree cost you?

[Marketing Professional]

That is a good question.

[Dave Ramsey]

Never did the math on that one, did we?

[Marketing Professional]

No, I don't think so.

[Dave Ramsey]

Okay, what school was it?

[Marketing Professional]

University of Rhode Island.

[Dave Ramsey]

Oh, that'll do it. All right. How much money do you make?

[Marketing Professional]

I make about 70,000 in my salary.

[Dave Ramsey]

Awesome. Do you feel like that's enough?

[Marketing Professional]

It's definitely enough.

[Dave Ramsey]

But you would like it to be more.

[Financial Analyst]

Yeah.

[Dave Ramsey]

Okay. What is the magic salary in your mind to where you're not going nuts, but you could live comfortably?

[Marketing Professional]

I mean, six figures probably.

[Dave Ramsey]

So $100,000. You'd be happy. You never need a dollar more.

[Marketing Professional]

For now.

[Dave Ramsey]

Okay, so we have $30,000 gap. Do you feel like currently you can cover all of your bills and pay off your debt making 70 grand?

[Marketing Professional]

Yeah, I do.

[Dave Ramsey]

All right. How much longer to pay off the student loans, you think?

[Marketing Professional]

Hopefully only a couple more years. Like two or three.

[Dave Ramsey]

So you could only put five grand a year towards your student loans right now?

[Marketing Professional]

I could probably put a little more, but yeah.

[Dave Ramsey]

What if you paused investing for a year and just got serious about it?

[Marketing Professional]

Yeah, that is an option.

[Dave Ramsey]

Throw a thousand bucks, a little over 1000 bucks a month that your student loans are gone.

[Marketing Professional]

Yeah.

[Dave Ramsey]

Does that not excite you to be completely debt free?

[Marketing Professional]

No, it does.

[Dave Ramsey]

It's doable. You're 24, so you're going to be fine as far as investing goes.

[Marketing Professional]

Yeah, I agree.

[Dave Ramsey]

Are you committing to doing this plan right now in front of me?

[Marketing Professional]

You know what? Let's commit to it.

[Dave Ramsey]

Okay. We're getting your info and we're gonna find out if you actually committed to knocking out your debt in less than one year. Fair.

[Marketing Professional]

That's fair.

[Dave Ramsey]

Nonchalant commitment. That's what I like out of this guy right here. Okay. Game on, dude. Sip a monster to get a little pep in your step.

[Marketing Professional]

Let's do it.

[NFL Player]

Yep.

[Dave Ramsey]

I'm the boss. What do you do for work?

[Restaurant Owner]

I own a fast casual restaurant.

[Dave Ramsey]

And how old are you?

[Restaurant Owner]

I am 30.

[Dave Ramsey]

Do you have a degree?

[Restaurant Owner]

Yes, in theater.

[Dave Ramsey]

Wow. So A bachelor's in fine arts.

[Restaurant Owner]

What is that? It is what you think it is.

[Dave Ramsey]

Theater degree. Okay.

[Restaurant Owner]

In set design. Inset design.

[Dave Ramsey]

Okay, cool. What car do you drive? Give me the year, make and model.

[Restaurant Owner]

Toyota RAV4A 2020.

[Dave Ramsey]

Okay. That's a good car. Do you use credit cards?

[Restaurant Owner]

Yes.

[Dave Ramsey]

How many do you have to your name?

[Restaurant Owner]

Probably six at least.

[Dave Ramsey]

I can't keep track of that. Okay, what's your most frequently used credit card?

[Restaurant Owner]

Amex Gold.

[Dave Ramsey]

Ooh, that's a flex right there. All right. Do you rent or own a home?

[Restaurant Owner]

Own.

[Dave Ramsey]

Okay. I'm going to guess that you are $15,000 in debt.

[Restaurant Owner]

No.

[Dave Ramsey]

What's the number?

[Restaurant Owner]

Five right now.

[Financial Analyst]

Five.

[Dave Ramsey]

Okay, so I was 10 off.

[Restaurant Owner]

Yeah.

[Dave Ramsey]

So a good bit off, but not outrageously off.

[Restaurant Owner]

Yeah. But 0 APR for 18 months.

[Dave Ramsey]

Well, in that case, take all the debt you can get. Right?

[Restaurant Owner]

Yeah.

[Dave Ramsey]

I'm picking up your sarcasm.

[Financial Analyst]

Yeah.

[Restaurant Owner]

So technically, zero.

[Dave Ramsey]

What kind of debt's the five grand on a credit card?

[Restaurant Owner]

Yeah.

[Dave Ramsey]

Why'd you have to put five grand on a credit card?

[Restaurant Owner]

We're building a house right now, so I just wanted to put some of our appliances and bigger expenses on that and then pay it.

[Dave Ramsey]

Until you have the money just to buy it outright?

[Restaurant Owner]

Yeah.

[Dave Ramsey]

You just didn't want to.

[Restaurant Owner]

No.

[Dave Ramsey]

You'd rather pay it off in chunks over time? I don't think I won that round, but let's play a different game. Can you tell us? People always want to know how they stack up against the average American when it comes to salary. Can you tell us how much you make?

[Restaurant Owner]

I'd say I probably bring home, hopefully in the 80 to 90's so do

[Dave Ramsey]

you feel like your 80, 90 salary is enough?

[Restaurant Owner]

Yeah.

[Dave Ramsey]

Okay. What do you think the magic salary is for you to live comfortably, not lavishly, but cover all your bills and still enjoy some life.

[Restaurant Owner]

Okay. For unmarried. I think nowadays if you didn't own a business and you were just bringing home a salary, you'd need about 80.

[Dave Ramsey]

Okay.

[Restaurant Owner]

To live.

[Dave Ramsey]

And you're doing that at 30. That's impressive. Yeah, that's 80 is the average household income.

[Restaurant Owner]

Yeah.

[Dave Ramsey]

So you guys are crushing it.

[Restaurant Owner]

Yeah. But I think married, I think you'd need over 100 right now to almost anywhere in America.

[Dave Ramsey]

You feel like you need over 100,000 as a household to survive.

[Restaurant Owner]

I live in rural Kentucky and I think you still need over 100 to be very comfortable married.

[Dave Ramsey]

Okay. There you go. You heard it from her first. Thanks for playing.

[Restaurant Owner]

Yeah, you're welcome.

[Dave Ramsey]

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[Financial Analyst]

Financial analyst.

[Dave Ramsey]

Do you have a degree?

[Financial Analyst]

Yes.

[Dave Ramsey]

What's the degree in?

[Financial Analyst]

Finance.

[Dave Ramsey]

What kind of car do you drive? Give me the year, make and model.

[Financial Analyst]

2016 Chrysler 200.

[Dave Ramsey]

That's a showstopper right there. Do you use credit cards?

[Financial Analyst]

Yes, I do.

[Dave Ramsey]

How many do you have?

[Financial Analyst]

2.

[Dave Ramsey]

What's the most frequently used card?

[Financial Analyst]

MasterCard.

[Dave Ramsey]

Are you investing currently?

[Financial Analyst]

I am.

[Dave Ramsey]

Do you rent or own a home?

[Financial Analyst]

Rent.

[Dave Ramsey]

Oh, this is a tough one. We got a bunch of smart cookies over here. In finance, I'm gonna guess that you have zero dollars in debt.

[Financial Analyst]

Correct.

[Dave Ramsey]

Boom. He's good. He's good. Are you impressed?

[Financial Analyst]

No. I mean, I.

[Dave Ramsey]

He doesn't seem impressed.

[Financial Analyst]

Huh?

[Dave Ramsey]

You don't seem impressed with my guess.

[Financial Analyst]

Having a finance degree, background, internships along the way, I feel like asking those questions is. I know. Yeah, I think it's a perfect. Yes, very good questions to get the answer.

[Dave Ramsey]

What is your view of debt as a guy who works in finance?

[Financial Analyst]

So correct me if I'm wrong, but I mean, like, just throughout college alone, I heard about like the. I don't know what the percentage, but you're supposed to Set so much money aside. You can have like, set some money for fun aside, but just more so just invest, make sure you're not coming out of college, like, super in debt. Like, for me, I was fortunate enough. I came out of college with zero debt. So I think I was off to a very good.

[Dave Ramsey]

How'd you do that?

[Financial Analyst]

I run cross country and track and field, so I ran at Central Michigan and Wichita State. I got some good scholarships thanks to some very nice coaches and some teammates that really helped boost myself up to train in and out of. And I was just fortunate enough to just to be in college, have that experience, get a degree out of it, make a lot of friendships and connections.

[Dave Ramsey]

Love it. So how much do you have in investments right now?

[Financial Analyst]

I say 50 to $60,000.

[Dave Ramsey]

Wow. Already? And is that like in a 401k? What are we talking?

[Financial Analyst]

Yep. So different CDs, 401k, just different. Like high yield savings plan investments as well as, like, bank accounts.

[Dave Ramsey]

And what percentage are you investing right now out of your income?

[Financial Analyst]

I would say. I mean, with a 401k, definitely always match. So I say always set yourself up to max that percent.

[Dave Ramsey]

Love it. Dude, you're crushing it. All right, it's your turn. You ready to play? All right. What do you do for work? I'm a financial analyst at Reynolds Consumer Products. Do you have a degree? Yes, I do. In finance. All right, degree in finance. What kind of car do you drive? Give me the year, make and model. 2023 Jeep Grand Cherokee. Woo. That thing's a pretty penny. Okay. Do you have credit cards? Yes, I do. I have two of them. Which is the one you most frequently use? Shea Sapphire. That's a classic. Are you investing currently? Yes, I am. 401k. And then just personal investments. Okay. Do you rent or own a home? I do not. Oh, this one's tricky. He's got the 2023. That's a pricey vehicle.

[Financial Analyst]

Million dollars in debt.

[Dave Ramsey]

No. My guess though is there's a payment on that. I'm gonna go. You are $30,000 in debt. Nope. What's the number? Zero. Dang. How'd you do it? The family. Oh, okay, so cheat code. Family helped pay for the car. Yeah, I got the car for. For a gift. It was gifted to you outright. Exactly. Okay. You have to pay a dime. No. That's a pretty good life. All right, I take it back. Then you're debt free.

[Financial Analyst]

How about we flip the script and we ask you the questions?

[Dave Ramsey]

You ready for this? Are you ready for this?

[Financial Analyst]

What do you do for work?

[Dave Ramsey]

I am a Ramsey personality, author and host of a couple of shows.

[Financial Analyst]

So making about a million dollars a year, I would imagine this. You're probably just drowning in cats.

[Dave Ramsey]

That's a bad year. It's a terrible year, man.

[Financial Analyst]

I think almost anybody can almost wish that you're in your shoes. Making over $100 million a year, right?

[Dave Ramsey]

Yeah, 100 million. So that's. We're getting closer at that point.

[Financial Analyst]

So you need a degree for that?

[Dave Ramsey]

I do have a degree. You don't need one, but I have a degree.

[Financial Analyst]

Okay. Okay. What do you drive?

[Dave Ramsey]

I drive a 2026 Tesla Model Y.

[Financial Analyst]

Probably some hefty payments on that.

[Dave Ramsey]

00.

[Financial Analyst]

That's impressive. That's impressive. You guys hearing us? What is your most frequently used credit card?

[Dave Ramsey]

I don't own a single credit card. I only have a debit card and I use cash.

[Financial Analyst]

Okay, that's smart. Smart. Okay. So how are you building credit then if you don't have a credit card? Like, how else do you build credit for yourself if you want to buy a home in the future or.

[Dave Ramsey]

I don't build credit. I have not had a credit score in a while and I don't know why I would need credit at this point in life.

[Financial Analyst]

Okay. And why do you say that, just out of curiosity?

[Dave Ramsey]

Well, I bought a home without a credit score, and so at that point, I'm not going into any other debt, financial obligations.

[Financial Analyst]

Yep. Got it. Okay, so it sounds good. I'm gonna guess $100,000 in debt.

[Dave Ramsey]

Couldn't be more wrong.

[Community Marketing Representative]

You want.

[Dave Ramsey]

You have a guess. No debt. No debt.

[Financial Analyst]

You're a smart man. You just gotta have your money ahead of you and not behind you. Right. Always keep your money in your. In your back pocket or in the bank.

[Dave Ramsey]

Give this guy a YouTube channel, he's crushing it.

[Financial Analyst]

Yep. Adam Jinkuski. A D A M R Z E N T K O W S K. I follow me on Instagram.

[Dave Ramsey]

Are you single?

[Financial Analyst]

Yes, I am.

[Dave Ramsey]

Are you single? I am single. Some eligible bachelors here debt free. Bachelors. Everybody wants a man in finance. Yep.

[Financial Analyst]

Yep. Businessman. I look good in suits too, so. But I'll let the girls find it all for themselves.

[Marketing Professional]

You don't have to be modest.

[Dave Ramsey]

That was the best pitch I could have asked for. Thanks for playing, guys. That was fun. What do you do for work?

[Community Marketing Representative]

I am a CMP agent, which is a community marketing representative.

[Dave Ramsey]

Okay.

[Community Marketing Representative]

For Margaritaville.

[Dave Ramsey]

For Margaritaville. So is that like vacations?

[Community Marketing Representative]

Yep. For their vacation club.

[Dave Ramsey]

Do you have a degree No, I don't.

[Community Marketing Representative]

I don't.

[Dave Ramsey]

Nice. Did you finish high school?

[Community Marketing Representative]

Yes, I did.

[Dave Ramsey]

But then after that you went your own way?

[Community Marketing Representative]

I actually did go to college, but I never. I like, dropped out because actually my mother. Mother passed away when I was 17.

[Dave Ramsey]

Oh, my goodness.

[Community Marketing Representative]

And I was so sorry. So I had to, like, kind of drop out and like, focus on me and my family.

[Dave Ramsey]

Yeah, for sure. Okay, well, you're working full time now?

[Community Marketing Representative]

Yep. Yes.

[Dave Ramsey]

Worked out for you. What kind of car do you drive? Give me the year making model.

[Community Marketing Representative]

Oh, my car. I call them. I call it Heltima, but It's a Nissan 2009 Nissan Altima, and it's a silver one.

[Dave Ramsey]

You've seen some things, huh?

[Community Marketing Representative]

It seems a lot of things.

[Dave Ramsey]

Wow. Okay. Do you have credit cards?

[Community Marketing Representative]

Me? No, I don't.

[Dave Ramsey]

You don't even own a single credit card? No, just debit card only. Okay. Are you investing currently?

[Community Marketing Representative]

No, but I'm actually about to start investing because it's like I've been reading up on a lot of investments on like, investment properties and stuff, so.

[Dave Ramsey]

Okay, so that's a goal for you. How old are you?

[Community Marketing Representative]

I am 29 years old.

[Dave Ramsey]

29. Okay. Do you rent or own a home right now?

[Community Marketing Representative]

I rent.

[Dave Ramsey]

Okay. I'm gonna guess that you are $5,000 or less in consumer debt.

[Community Marketing Representative]

Just about. I'm almost actually done with my. What I have left of when I went to college.

[Dave Ramsey]

So what's the total amount of debt you have left?

[Community Marketing Representative]

Like 15.

[Dave Ramsey]

Oh, 15. So I was a little bit off? Yeah, off by 10. But in the ballpark.

[Community Marketing Representative]

Yeah.

[Dave Ramsey]

All right. I knew it wasn't like a whole lot. Based on your lifestyle.

[Community Marketing Representative]

Yeah.

[Dave Ramsey]

Okay. Would you say that's pretty good?

[Community Marketing Representative]

That's pretty good.

[Dave Ramsey]

Could this be a carnival game? That I could. All right, let's go. It's okay. We got some homeschoolers out here watching. But they'll survive.

[Community Marketing Representative]

They'll be all right.

[Dave Ramsey]

They've heard worse. Yeah, they've. Okay, high school. What's your plan to pay off the debt?

[Community Marketing Representative]

Me? My plan on. I, like, I have. I give myself a five year plan.

[Dave Ramsey]

Should take you five years to pay off 15 grand.

[Community Marketing Representative]

Probably not, but like, it just like for me, I like to take things slow and make sure everything is paid off, but I'm giving myself like two, three years. Really? Okay, but five years, just in case.

[Dave Ramsey]

You're a just in case kind of guy.

[Community Marketing Representative]

Just in case.

[Dave Ramsey]

Okay, well, I'm rooting for you.

[Community Marketing Representative]

You can never go wrong with just in case.

[Dave Ramsey]

I bet you could do it in a year.

[Community Marketing Representative]

I probably can.

[Dave Ramsey]

While you're a single young man, you can cut your expenses down.

[Community Marketing Representative]

Actually, with this job, I could actually do it in a year.

[Dave Ramsey]

Hustle. You're on Commission. Throw 1,000 bucks or more at your debt. You're done. Dude, let me help you. I'll give you something for doing this with me. I'm going to give you this card right here. It's called EveryDollar. This is a budgeting app. I just gave you the premium version for one year. It'll connect to your bank account. It'll give you recommendations to pay off your debt faster based on your situation.

[Community Marketing Representative]

Is this Gordon Ramsay?

[Dave Ramsey]

This is Gordon Ramsay's budgeting app. You heard of the guy?

[Community Marketing Representative]

Of course.

[Dave Ramsey]

I heard Gordon Rams yells a lot, doesn't he? Yeah, but why does he got to be so mean?

[Community Marketing Representative]

Because people are stupid, and they don't got common sense.

[Pipe Fitter]

Don't do this to yourselves, let alone the customers.

[Dave Ramsey]

Makes a hell of an omelet, though, doesn't he?

[Community Marketing Representative]

He does. He does. He makes a lot of good food.

[Dave Ramsey]

So, like, you can't knock him.

[Community Marketing Representative]

Yeah, exactly.

[Dave Ramsey]

He's good at what he does. His methods are, you know, they're. They're not normal, but they work.

[Community Marketing Representative]

But they do work.

[Dave Ramsey]

He's the goat.

[Community Marketing Representative]

Exactly.

[Financial Analyst]

I love it.

[Dave Ramsey]

Well, good luck using the app. I'm rooting for you, dude. Thanks for talking with us. Well, that was an interesting social experiment. As you saw, a lot of people are making good money. They're making the average American salary or even higher. And here's what I found out. Everybody feels like they could be making more and that it's not quite enough. They could be more comfortable and more comfortable. But here's the truth. If you don't learn to manage the money you're making now, you're never going to be content with the money you make. Learn to live on the average salary or below. And then when you get more money, it's going to be gravy on top to help you build wealth instead of keeping up with your payments. That's the lesson learned here today. And if you want to find out how your income stacks up with the average American, I made this video to solve that problem. So go watch it here next or use the link in the description. Thanks for watching. We'll see you next time.