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Chapter 1: How can I get out of business debt?
Live from the headquarters of Ramsey Solutions, it's the Ramsey Show, where we help people build wealth, do work that they love, and create actual amazing relationships. I'm Dave Ramsey, your host, Jay Boshaw. Ramsey Personality is my co-host today. Open phones here at 888-825-5225. The call is free, and some say the advice is worth exactly what you pay for it.
Vinny starts this hour in New York City. Hi, Vinny. How are you?
Hey, how are you? Pretty good.
Good. How can we help?
So I'm looking to get advice. I have a small business. I have about $95,000 in debt, um, in our business and we've made good money in sales, but every time I feel like I make money, all of my profit just goes to my credit cards and I never see anything. And it's just very frustrating cause I make two steps forward, one step back, if that makes sense.
So I'm trying to see what I can do to get my debt down. Um, I also have a small, Small debts in the personal, because I'm also looking, I want to buy a house next year as well. So that's what I need help with.
Okay. Well, bad news, you're not going to buy a house next year because you're going to be getting out of debt. Yeah. You can't do both of these things. Right. So you financed the start of your business on credit cards?
No. No, so we've been in business.
You said you had business debt, and then you said credit cards were taking all your money. That's where I got that.
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Chapter 6: What are the risks of relying on credit cards for business?
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