The Ramsey Show Highlights Use My Kid's College Fund To Pay Off My Debt?
Dec 5, 2025
A man grapples with $90,000 in debt and the dilemma of using his son's college fund to pay it off. As he shares his financial journey, he reveals a significant reduction in debt and questions the wisdom of raiding 529 accounts amid changing family plans. Discussions unfold around their vehicle choices, with hosts recommending a tough decision: sell the luxurious truck to safeguard college savings. The hosts emphasize prioritizing financial health while navigating life's unexpected turns.
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Progress Toward Debt Payoff
- The caller, George, detailed reducing $90,000 of debt to $65,500 in 10 months while contributing to two 529 accounts.
- He funded about $4,000 each for his stepson and son and now has $11,500 across both accounts with one teen opting out of college.
Emotional Spending Undermines Progress
- Emotional spending and the desire to feel rewarded can derail progress even when income is good.
- Dave Ramsey connects buying new vehicles to emotional decisions that slow debt freedom.
Keep Using The Debt Snowball
- Continue using the debt snowball and put any extra income toward the smallest balances to build momentum.
- Keep cutting credit cards and focus on eliminating vehicle and card balances as priority debts.