I Make $28,000 A Year, Just Bought A $20,000 Car

Sara's with us in Savannah Georgia hi Sara how are you good how are you do better than I deserve what's up I'm calling because I have a year and a half left in school I've set out for the last year due to financial reasons of course I have 29 thousand in student loan debt and I'm just trying to figure out is it worth going back to schools if they got more debt to complete the degree or just work on tackling the debt and also I'm currently engaged and we're trying to do like a cruise wedding so I'm just trying to figure out which is that Wow and so what do you make I make twenty-eight thousand six hundred a month I mean a year I'm sorry yeah and be nice yeah and what does he make 26,000 yearly okay and what are you planning on spending on your wedding um well if we do the cruise destination is looking at about 5,000 okay and do you have five thousand right now no when when is the wedding we were looking at tours November of this year okay so can you save five thousand between the two of you by then yes we started budgeting this year good and we figured by the time April comes we should have at least a five thousand okay good that's a good plan all right so we're going to pay cash for the wedding your whole wedding expense is five grand yes okay it's an inexpensive way to do it that's good and kind of a cool thing I like it when you are married your household income will be about $55,000 a year correct okay you make you have $29,000 in death do you have any other debt I just bought a car you just bought a car yeah because I didn't have my thousand dollars base for my emergency fund and my 2010 Ford Fusion needed some repair like CV axles great minor things but they still add up so am i expensive a car did you buy twenty thousand it's a 2014 Ford Fusion you're kidding me you spent twenty thousand dollars on a car yeah and you're broke yes sell the car okay that was stupid okay tell me you know that was stupid I felt the brunt of it acted like three days later when the gentleman was like well you have 30 days to bring it back and I'm like I just feel like a sister are you within the 30 days um I brought the vehicle yeah I think my 30 days I might have just ended last week yeah call them and call them and beg them uh-huh to let to let the 30 days count and let you take it back and you go and you go get you a thousand dollar car okay you might you not have honey you'd only don't even don't even start talking okay not after doing that I'm giving you hard time you have to know that was dumb you make $28,000 a year you signed up for a $20,000 car debt and you are already $29,000 in debt on your student loans and broke yeah that you have to hear that okay I'm not trying to be mean to you but you got to break this thing out of your brain or you're going to constantly as a couple be wandering back into this mess and I'm not going to be able to help you because you're going to continually go back to this back to the slaughter I mean you just walked out right in front of a gun and said shoot me I mean it just I don't want I don't want you to live your life like that honey so here's what I'm going to do I want the two of you as my wedding gift to go through Financial Peace University that's our nine week series once you get that car taken back call them today and once you get your little little beat or car or some kind to get by until you get some this mess cleaned up now what were you studying in school Healthcare Administration Healthcare Administration okay and what do you do for a living now I'm an assistant manager at the DMV okay so you're not in the healthcare field yeah do you want to be in the healthcare field I do okay can you study that at night and finish it in pay cash as you go maybe after the wedding yes but some of the classes do require me to be in the actual school do they have do they offer them at night yes but with my work schedule I don't generally get off in time to take those clothes yeah you might have to rearrange your work schedule in order to finish your degree but I don't know that you necessarily have to do completely all school or all work my point is maybe we can finish up school while we're working while we're married and while we're paying off the debt and but pay cash for the school as you go you pay cash for it and whatever you're going to do don't add debt pay cash for whatever you do is you go work your way down through it that way and and pay cash for cars as we go pay cash for the wedding you already got that one on the run good for you that was a good decision and we'll pay cash for the cruise wedding and but let's let's say let's take as many classes as we can and then if we have to talk to the B & B and say guys I got to dial back a little bit because I'm this close to finishing and for one semester here I need to be able to take off on Tuesday nights you know okay they'll work with you or if they won't find a different job that's kind of where I'm at yeah but I wouldn't just quit my job to go back to school full-time no no no okay this more so for more income okay I'm looking for yeah I think I think you can make more with your degree and I think it's a good degree to finish and healthcare is a good field to be in particularly Healthcare Administration with as much up evil and chaos as there is in that world someone that goes in there with a cool head in the middle of all this mess can probably you know do some good for some companies and with a little bit of academic it you know under your belt so you're right on track but the glaring thing in this disc is this poor car and please talk them into you and your fiance go over there and go hey we just got engaged and you guys please if we have to write you a check take the count this in the thirty days even if we give you a thousand dollars just to say thank you give them a tip you know to pay the salesman or something right but be able to take the thing back because it's just insanity the numbers on that just take my breath away how bad they are and I want you to get because with no car debt and the wedding is saved up and paid for and we're paying cash for college as we go along and then we can begin to knock out the twenty nine thousand as well see you're going to be in a really good place in a very short period of time but when you drop a twenty thousand dollar stupid car loan in the middle of it it just blows the thing up it makes it very hard to pull off so really really really bad decision there on that one but you can recover from it let's get out of it and let's do something to get out of that deal please work very hard to get out of it and don't use them saying no and smiling as a as an excuse you've got to work your way away from that it's just really really bad so and hold on Kelly I'll pick up I'm going to put you through Financial Peace University is my wedding present to the two of you what the two of you two go through the class together and you'll see what I'm talking about it'll start to come together for you and you just you see how avoiding debt causes you to be in a position to be outrageously generous and to build wealth hey guys thanks for watching if you enjoyed this video click the subscribe button to get the latest content and check out these other great clips from the show now [Music]

Channel: The Ramsey Show - Highlights

Views: 620,766

Keywords: I Make 28k A Year, dave ramsey live, dave ramsey, dave ramsey show, the dave ramsey show, dave ramsey live stream, debt free scream, Just Bought A $20, 000 Car, dave, ramsey, how to buy a car, how to buy a used car, buying a new car, dave ramsey debt free scream

Id: j-2bs3FdO1c

Length: 8min 31sec (511 seconds)

Published: Wed Jan 11 2017