Shelby (Caller)
Appearances
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
It's not super regular that way, but I'd say it's probably – Maybe $1,000 a month.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
Hi there. So I am in a bit of a pickle right now. I'm a stay-at-home mom, a new stay-at-home mom. So I was working previously, but now my husband provides all the income for our family. We have an eight-month-old son. But our biggest issue right now is that our vehicles are taking up way too much of our budget. And before we got married, my husband bought this really nice truck that...
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
he could afford or he thought he could afford then. Um, and that was before we met before we got married. And now it's costing us almost as much as our mortgage. Um, and we owe about $25,000 more than the car's worth right now.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
change right now. He's working up in Alaska, so he's making about four times as much as he normally would.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
So I've been trying to convince him to throw all this extra income at the truck, but he's saying, no, let's just stick to the snowball plan and go smallest to largest.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
It's a lot of money that we could be using for other bills if we could get rid of the truck.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
Okay. So we have a credit card that's about $600 left. His credit card, which is about $5,000. We have, I'm sorry, that wasn't small to largest, but my credit card, which is about 600. I have a personal loan for 2,000. We have a joint loan together for 3,000. He's got a credit card for five, his own personal loan for 7,000. And then I have student loans for about 8,000. Mm-hmm.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
Yes. So our expenses right now are about $1,500 a week. So that's about $6,000 a month. So that's about $8,000 surplus.
The Ramsey Show
You Don’t Need a Raise, You Need a Plan
So he's been doing it for about four weeks. He's going to continue to do it for about three more.