The Ramsey Show Highlights I'm In $147,000 of Debt And Only Make $1,500 A Month
Dec 12, 2025
Miguel, a small-business owner drowning in $147,000 of debt while earning just $1,500 a month, calls in for advice. He considers selling his printing operation but feels attached to it. The hosts dive into his financial situation, urging him to find full-time work since his business isn't providing a living wage. They suggest reducing hours and relocating to cut costs. Their final advice? Keep the business operational for six months while securing additional income, emphasizing the importance of increasing his earnings to tackle the debt.
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Early Printing Business And Heavy Personal Debt
- Miguel describes running a printing/merchandise business and being $147,000 in debt across cards, student loans, and a car loan.
- He says the business is his first year and currently brings home about $1,500 per month after expenses.
Keep The Business Part-Time While Getting A Job
- Shift the printing business to a part-time side hustle while you get a full-time job to cover living costs and reduce financial strain.
- Keep the business running minimally to preserve income and clientele while you stabilize cash flow from employment.
Business Revenue Isn't A Living Wage
- Miguel's current income doesn't meet a living wage and lacks health insurance, which increases vulnerability to financial shocks.
- The business revenue is real but insufficient, so immediate income augmentation is necessary to survive and pay down debt.