Couple Earns $180K But Owes About $780K, Including $84K On Cars. Ramsey Show Host Says, ‘You’re Going To Be Driving Junkers’

Résumé détaillé

A couple earning $180,000 a year still came up $1,100 short every month. They owed about $780,000, including $84,000 on two cars. Clark, a nurse from Cleveland, told "The Ramsey Show" recently that she expected to spend more than 15...

Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below.

A couple earning $180,000 a year still came up $1,100 short every month. They owed about $780,000, including $84,000 on two cars.

Clark, a nurse from Cleveland, told "The Ramsey Show" recently that she expected to spend more than 15 years paying off the debt. By then, she and her husband would be 64 and 65 with almost nothing saved for retirement.

As Clark went through what she and her husband owed, the two car loans stood out to co-host Jade Warshaw. "You're going to be driving junkers," she told Clark.

Clark's side wellness business brought in about $36,000 a year and had a couple of employees. She said she couldn't offer services during the COVID-19 pandemic, so she kept putting money into the business and used credit cards to cover some of the costs.

The business eventually closed, and Clark still owed $83,460 on a Small Business Administration loan.

The couple also owed nearly $273,000 in student loans and just over $14,000 on a personal loan. By the time Clark called the show, they owed about $173,000 from a credit card consolidation and nearly $41,000 on cards that were still open.

Clark earned $117,000 a year, and her husband made $63,000 driving a truck. They took home about $12,800 a month and were still making the minimum payments on their credit cards. None of the accounts had gone to collections.

Trending: Luxury Hotel Supply Is Growing 4 Times Slower Than Global Wealth. Here's What's Driving The Growing Gap.

Début de l'article, extrait de Yahoo Finance. Pour lire la suite, ouvrez l'article chez le média.