Adébọ́lá @adetheexplorer

God is the greatest. youtube.com/@adetheexplorer Toronto, Ontario Joined September 2009

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Traeyz ♠️ @TraeyzX

16 hours ago

Caller: I am 35, married with a kid and a second on the way. I have $1.8 million in debt total. Dave Ramsey: Good Lord. Caller: I live in Montreal, which is the third most expensive city in Canada, and I work as a nurse, which is the cheapest paid in the whole of Canada. Dave Ramsey: What is the 1.8 million on? I hope it's just your real estate. Caller: I have a triplex which I owe about $680,000 on, and my family home which I owe $590,000 on. Dave Ramsey: What's the triplex worth? Caller: The triplex is worth about $850,000. I'm trying to get $950,000 on it, but I don't know if I should lower the price. Dave Ramsey: So you've got it up for sale. And what is your home worth? Caller: My home is worth about $750,000. Dave Ramsey: Okay, that's not all of it. Caller: No, it's not. I have two Hondas which I owe close to $70,000 on each. I have $350,000 of personal debt, and $35,000 of credit card and student loans. Dave Ramsey: What is your $350,000 of personal debt? Caller: It was loaned to me mostly by my cousin, both as a down payment for the house as well as to renovate the house and the triplex. Dave Ramsey: Wow. And what's your household income? Caller: Around $110,000 to $120,000 before tax. Dave Ramsey: You owe $70,000 each on two Hondas? Caller: Yes. Dave Ramsey: So they're not worth 70? Caller: No, they're fairly new, but they're electric. We got them because we would be saving $500 in gas per car. Dave Ramsey: Yeah, that makes a difference when you're $2 million in debt. That's a big deal. Not! How can we help, hon? Caller: I had my aha moment when I saw $22,000 going out in one month after doing a budget, and I don't know what exactly to do. I tried to get my wife on board. She says she'll get rid of everything besides the house and the cars. I cut out everything from potato chips to haircuts, literally anything I could to curb the expenses. I wish I could do more jobs a day, but my doctor says that because I'm bipolar, I need to have a healthy work-life balance. And my wife is going on maternity leave in 12 weeks. Rachel Cruze: How much of her salary is the 120? Caller: She makes about $66,000. Rachel Cruze: So half of it. Is that paid maternity leave? Caller: She gets 70% paid. Rachel Cruze: For how long? Caller: For a year. Rachel Cruze: And how much are these car payments a month? Caller: Just under 750 each. Dave Ramsey: I think we need to have a different discussion at your kitchen table. It's not like, "what will she go along with?" She's one of the adults here too. The two of you need to sit down, look at this and go, "In 10 years, where do we want to be?" I'm collapsing under the weight of this. This is killing me, and it's aggravating your bipolar because your stress level is through the roof. It's not a matter of keeping a princess happy. The princess gets to grow up and be a woman.