The Ramsey Show Highlights How Do I Begin To Pay Off $300,000 Of Debt?
Sep 30, 2025
A caller reveals his staggering $300,000 debt made up of student loans and IRS issues. He shares his journey from being a pro golfer to a district manager, highlighting how financial missteps piled up. Advice flows on increasing income through coaching while tackling impulsive spending habits. The hosts emphasize the importance of a strong motivation and a long-term vision for paying off debt. They discuss lifestyle choices, accountability, and even the impact of marriage on financial strategies, all wrapped up with a light and engaging tone.
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How He Accumulated $300K
- Scott explained he has about $300,000 in debt, mostly student loans and IRS bills.
- He traced the IRS debt to disallowed Schedule C filings after an audit and unpaid student loans while touring as a pro golfer.
Start Local Coaching For Steady Income
- George and Jade suggested Scott monetize local coaching and private lessons to add steady income without travel costs.
- They recommended leveraging his PGA certification and business background to start that side work immediately.
Agent Stole Quarter-Million
- Scott shared that an agent stole about $250,000 of his earnings early in his career.
- He said that loss forced him to borrow to keep competing and worsened his financial situation.