The Ramsey Show Highlights: "I Got Desperate Enough To Finally Call You Guys"
Release Date: May 18, 2025
Host/Author: Ramsey Network

Introduction

In this episode of The Ramsey Show Highlights, listener Alan reaches out in a state of financial distress, seeking guidance on managing his debts and unstable income. Hosted by the Ramsey Network, the show features expert advice from financial experts Rachel Cruze and George Kamel, who work together to provide Alan with actionable solutions to his financial woes.

Alan's Financial Struggles

Alan begins the conversation expressing deep frustration and self-doubt regarding his financial situation. At [00:06], he states:

Alan: "Needed to know if my plan I know nothing about. Really, you guys is just I'm an idiot or how much of it is I'm an idiot to try to get everything straightened out financially."

Alan outlines a precarious financial landscape, revealing that he and his wife are expecting a child. He mentioned contemplating bankruptcy due to accumulating debts totaling approximately $12,000, which includes a car loan. His income is unstable, fluctuating between $400 to $800 weekly despite working 40 to 60 hours [01:55]. He earns an hourly wage of $15, which he finds insufficient given the inconsistent nature of his work.

Understanding the Root Causes

George and Rachel quickly identify the core issues contributing to Alan’s financial instability. George notes Alan’s desperation and the lack of a concrete financial plan:

George: "Well, don't beat yourself up too much. You don't know us. And yet you decided to call us. So somebody close to you said, alan, call these guys. Am I getting this right?" [00:23]

Alan's primary concerns include:

• Inconsistent Income: His earnings are highly variable, making budgeting challenging.
• Debt Burden: With $12,000 in debt, primarily from a car loan and a previous divorce, Alan feels overwhelmed.
• Future Financial Responsibilities: The impending arrival of his child adds urgency to his situation.

Expert Advice and Recommendations

1. Avoid Bankruptcy

Rachel swiftly advises against bankruptcy as a solution to Alan's problems:

Rachel: "I'll tell you this. Bankruptcy is not your answer. You guys are the solution to this problem, and so we're going to get you out of it." [04:20]

She emphasizes that with the right strategies, Alan can overcome his debts without resorting to bankruptcy.

2. Increase Income Streams

Both Rachel and George stress the importance of raising his income:

Rachel: "You need income asap." [04:52]

George: "Better job. Better job." [02:32]

Alan mentions plans to transition into real estate to supplement his income. However, Rachel counters that this approach is a luxury when immediate funds are needed. Instead, she suggests securing a more stable income source, such as a higher-paying job or retail work that offers consistent hours and pay.

3. Liquidate Assets to Reduce Debt

One of the most impactful pieces of advice comes from Rachel regarding Alan’s car:

Rachel: "You need to sell that car today. It's worth 30 grand and you owe seven." [05:22]

By selling the car, Alan could potentially eliminate his $7,000 debt and still retain $23,000, providing significant relief and capital to invest or save. Rachel outlines this as a straightforward solution to drastically reduce his financial burden.

4. Implement a Structured Financial Plan

Rachel recommends that Alan and his wife enroll in Financial Peace University, a comprehensive program designed to teach budgeting, debt elimination, and wealth-building strategies. She asserts:

Rachel: "You and your wife sit down, watch all nine lessons, and then you will be on the Ramsey train on the path to building wealth." [05:45]

George reinforces the importance of accountability and intentionality in tackling financial problems:

George: "If you have intentionality, in other words, a much better paying job, and then you do what George tells you to do to pay it off." [03:45]

Key Takeaways

• Immediate Action is Crucial: Alan needs to address his unstable income and high debt promptly to avoid further financial deterioration.

• Sell Non-Essential Assets: Liquidating the car can provide immediate debt relief and funds to stabilize his finances.

• Increase and Stabilize Income: Securing a more reliable and higher-paying job is essential for long-term financial health.

• Educate and Commit: Enrolling in Financial Peace University can offer structured guidance and accountability to achieve financial peace.

• Overcome Self-Doubt: Both Rachel and George emphasize that Alan is not an idiot but rather someone in need of the right tools and mindset to overcome his challenges.

Conclusion

By the end of the episode, Alan is provided with a clear and actionable plan to regain control of his finances. The experts encourage him to take immediate steps to stabilize his income, eliminate debt by selling his car, and educate himself through Financial Peace University. Their supportive and straightforward approach aims to empower Alan to become debt-free and build a secure financial future for his growing family.

Notable Quotes:

• Rachel Cruze: "You need to sell that car today. It's worth 30 grand and you owe seven." [05:22]

• George Kamel: "If you have intentionality, in other words, a much better paying job, and then you do what George tells you to do to pay it off." [03:45]

• Rachel Cruze: "You and your wife sit down, watch all nine lessons, and then you will be on the Ramsey train on the path to building wealth." [05:45]

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