The Ramsey Show Dwelling On Past Mistakes Won't Benefit Your Future Growth
Jan 13, 2026
Bankruptcy doesn’t always solve financial woes, as revealed through a caller's arcade failure. Retirement funds shouldn’t be cashed out for loan payments—long-term strategies are key. The complexities of moving due to nearby Section 8 housing spark insightful advice on real estate decisions. Switching careers may involve sacrifices, but it can lead to future benefits. Navigating family loans and expectations in non-marital relationships adds depth to the conversation, while paying off an upside-down car debt emphasizes the importance of smart financial choices.
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Stop Pouring Money Into A Losing Business
- If your small business is failing, cut losses, get a full-time job, and funnel income to pay down business debt quickly.
- Sell or rent equipment and stop pouring personal income into an unprofitable venture.
Don't Cash Out Retirement To Repay A Loan
- Don't cash out a 401(k) to pay a 401(k) loan because you trigger taxes, penalties, and lose future growth.
- Prioritize repaying the loan and accelerate payments using budget changes and possibly selling equity in cars.
Get Local Real Estate Advice First
- Get two to three local real estate opinions and comps before deciding whether to sell or move because facts beat fear.
- Use equity as an option; don't assume you can't afford to relocate without exploring alternatives.
