The Payment Mentality Is Keeping You Broke
4/14/20262 hr 13 min
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Rachel Cruze and George Kamel answer your questions and discuss:
“We are running a $5,000 deficit in our budget every month after losing $1.6 million to business fraud. What should we do?” “Our bank closed all our accounts two months ago and still hasn’t paid us back our money. What should we do?” “We are $90,000 in debt and living paycheck-to-paycheck.” “I have spent over $200,000 on lawyers for my divorce. I’m now out of money—how do I keep financing this?” “We just inherited $2.5 million. How do we manage this?”
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First 90 secondsGeorge Kamel· Co-host0:00
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Rachel Cruze· Host0:09
[upbeat music] Normal is broke and common sense is weird, so we're here to help you transform your life. From the Ramsey Network in the Fairwinds Credit Union Studio, this is The Ramsey Show, and I am Rachel Cruz hosting this hour with my good friend and co-host of Smart Money Happy Hour, George Kamel. And we are taking your calls live at 888-825-5225, so give us a call. All right, kicking us off this hour, in Austin, Texas, we have Tracy on the line. Hi, Tracy.
Speaker 20:45
Hi. How are you?
Rachel Cruze· Host0:47
Hi. We're doing great. Thanks for calling in.
Speaker 20:50
Yeah, absolutely.
Rachel Cruze· Host0:51
How can we help today?
Speaker 20:52
Um, so long story short, we've had some, um, financial losses that were out of our control. You know, our income has gone down, our costs have gone up. Um, we've blown through all of our savings trying to, you know, stay afloat. Uh, went to credit cards to, um, you know, for all of our business ex- business expenses, our household expenses, all of those things. Um, and we're, we're still behind borrowing from family, all of the things. Um, right now we are running at about a $5,000 deficit a month even, uh, you know, all things considered. And we're- I'm just