‘You don’t have wiggle room!’ Dave Ramsey lost for words as cleaner, 70, fears losing home | Personal Finance | Finance


On a video posted on The Ramsey Show – Highlights YouTube channel in August, Janice called The Ramsey Show where the money saving expert gave her guidance about her financial situation. Janice and her husband both do not have retirement savings and were living with $27,000 (around £19,712.56) debt on their home and $11,000 (around £8,031.04) debt on their car.

With just $25,000 (around £18,251.12) in cash, Janice and her husband were “not in agreement about what they should do”.

Janice said: “I’m so stressed, I at least want a house to live in, I don’t want to live anywhere cheaper. I need help.”

Mr Ramsey said: “Here’s the thing, if you want to keep this house, you’re going to have to start living like you’re completely bankrupt because you’ve got to clean this mess up.

“You do not have wiggle room here, that’s where all this stress is coming from in your stomach and why you called me.”

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Janice has $2,000 (around £1,460.00) a month coming from social security combined with her husband, and she earns her own income as a cleaner.

She makes $2,000 (around £1,460.00) a month cleaning people’s homes, however as this job is physically challenging, Janice fears how much longer she can do this for. Her husband has physical limitations, and health problems which stops the work he can do.

He has a part time job at a supermarket but the money coming in is nothing Janice “can count on”.

Janice mentioned that she had “an old roadster that’s probably worth around $10,000.”


However, Mr Ramsey told her that it’s the first thing that she needs to sell to put towards paying off her car debt, and her house debt.

He said: “I’m sure that’s going to break his heart [her husband] but I’m sorry, it’s gone.

“That gives us $10,000 to put towards the house, because the roadster will sell for enough to pay for your car, we can leave $15,000 in your emergency fund, put $10,000 towards the house.

“You guys need to get in the business of getting that house paid off for the next 17 months or so.

“Eating out is what is causing you to clean toilets.

“In the future you may be able to, but right now you need to get your roadster sold, your car paid off and your house paid off.”

The money saving expert gave Janice an alternate solution for solving her problems.

He told her she could sell her home, as it is worth $250,000 and move into a smaller condo for $100,000, and just live off remaining $100,000 from the sale of her house.

However, Janice did not want this to be her retirement home. The one thing she did not want to do was lose her home.

The Ramsey Show – Highlights is available to watch on YouTube.



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