Owen
Appearances
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
So I have six credit cards totaling to about $65,000 in total credit card debt. With the smallest minimum monthly payment, roughly about $51 a month. Then the next credit card is about $123 a month. The next three are all about $10,000 a piece, and they're about $200 a month. That you owe on them? The last three?
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
The last three, so I owe $5,000 on the first one. I owe $7,000 on the second one. The next three after that, I owe $10,000 a piece, so a total of $30,000. And then the last one, I actually owe $25,000 on.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
So basically, so my job profession, I'm actually a finance manager, ironically, at an RV dealership. So, you know, when COVID happened, you know, I was making,
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
crazy good money so you know even sometimes upwards of $30,000 a month so I had just got into the you know credit building credit and I just seen as okay if I don't mind spending $10,000 because I could just pay that back and I did that for a couple months and then you know the times have changed pay changed a little bit pay still good but it just got to the point where the interest was
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
was just so high to the point where anything over the minimum payment was just ridiculous i mean the minimum payment right now is anywhere from yeah but you're spending money on on lifestyle is what these credit cards are initially and they have been maxed out for about three years i've just paid the bare minimum um and i'll be quite frank um you know i'll pay the bare minimum and that little bit that pay i might spend it again not because i need it but it's just like
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
I just don't see the light at the end of the tunnel to get these things.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
I have three cars. I owe $35,000 on my truck. I owe $31,000 on my EV, my Mustang Mach-E, and I owe $16,000 on my girlfriend's SUV.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
That's sort of, believe it or not, kind of what my life was and kind of what I aim to be. That's why I chose it. That's why I chose the metaphor.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
I also have a boat, but I've paid that pretty low, so I only owe about $8,000 on the boat. And I do have an RV, a fifth-floor, that I owe about $26,000 off.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
So I gross anywhere from $15,000 to $17,000 a month. My bring home is anywhere from $9,000 to $10,000, give or take.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
I mean, it's unfortunate. You know, it's just one of those things that I thought, okay, I'm making money, making money. I can spend more money. I mean, and then also, you know, I do have four children, and I do pay rent, which is roughly about...
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
Yeah, so honestly, I have anywhere from $500 to $1,000 left over at the end of every month, and that's if I'm lucky. Yeah.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
No, that's the main one that I'm flipped upside down on.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
No, I Kelly Blue Booked it. What about the Mustang? The Mustang, I probably am upside down about $1,000 or $2,000 on it. I could probably sell it for $29,000. Okay.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
No, I'm the only one on every loan I've mentioned.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
That one I probably could sell. I could probably make $3,000 on that one. I could possibly sell that one for about $18,000 or $19,000.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
So the boat is worth about $15,000. All right, sell that today.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
Sell the boat today. Sell the boat today. Yes.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
The RV, I can break even. Okay, listen. You've got to sell the RV. You sell the boat.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
Hey, good afternoon. Thanks for taking my call.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
What's going on? Yes, I was just calling. I'm My name's Antonio Owens. I'm from Jacksonville, Florida. I'm 25 years old, and I have a lot of debt, and I'm basically trying to figure out what's the best way to tackle that and overcome it.
The Ramsey Show
It’s Time to Stop Surviving and Start Taking Control
um you know from credit cards cars and i'm in a situation where i was thinking about purchasing a house um but i don't think that is the best financial decision so i just want to see if you guys can help me out with that we agree uh let's get you out of debt first so walk rachel through your debt go smallest to largest for us Okay. Yeah, so go on small to largest.
The Ramsey Show
Make Money Choices Today That You Won’t Regret Tomorrow
Hey, guys, I was hoping to get your take on, you know, how young couples can kind of navigate car ownership, some things like that. You know, honestly, I'm I'm actually currently working on my wife's blown up car to repair it to either keep it or sell it. But man, we've been shopping around for a car in the used market, the new market.
The Ramsey Show
Make Money Choices Today That You Won’t Regret Tomorrow
And I'm just over here like, wow, do people really buy these things? Like, that's too much. And I'm like, used RAV4 is $30,000 for a used car. I'm like, no, I'm just not doing it.
The Ramsey Show
Make Money Choices Today That You Won’t Regret Tomorrow
Well, kind of whatever I want. But then I'm hitting our savings and things like that, and we have a very large savings for a home right now. So that's kind of what I'm hoping to get through and hopefully get some clarity from other people. What do you want to get? What kind of a car? What do you want out of it?
The Ramsey Show
Make Money Choices Today That You Won’t Regret Tomorrow
So currently my wife has a Prius, which is one of the larger small cars, and she is pregnant. And so we're expecting a child.
The Ramsey Show
Make Money Choices Today That You Won’t Regret Tomorrow
No problem. We were going to put that down and try to maybe finance a little extra.
The Ramsey Show
Make Money Choices Today That You Won’t Regret Tomorrow
Well, we were looking at the 25s, but the problem is for the kind of vehicle that we can get for that price range... You know, now I have my wife in a car with 200,000 miles on it. Not true. And a new child.
The Ramsey Show
Make Money Choices Today That You Won’t Regret Tomorrow
Yeah. Well, and that brings me to the I guess the frustrating part is when we look at vehicles like that. we always look at each other and say, well, why don't we just keep your Prius then? Because it's about to be, you know, have a rebuilt engine in it.
The Ramsey Show
Make Money Choices Today That You Won’t Regret Tomorrow
Well, the baby doesn't care and the baby fits in there.
The Ramsey Show
Make Money Choices Today That You Won’t Regret Tomorrow
No, well, she wants something a little bit bigger because Neutrius is tight.