'The Ramsey Show' To Caller With $147K Debt: Don't Sell the Business — Just Stop Treating It Like Your Full-Time Job

Core Insights - The advice given to Miguel, a small business owner, was to reframe his printing business as a side hustle rather than selling it to address his debt [1][5]. Group 1: Business Overview - Miguel operates a merchandise printing business generating approximately $1,500 per month in its first year, while working 50 to 60 hours weekly [2]. - The business's equipment is valued at around $30,000, and Miguel is considering selling it to pay down part of his $147,000 debt [3][6]. Group 2: Financial Situation - Miguel's monthly expenses include $850 for rent and $450 for a car payment, leaving limited funds for essentials, and he lacks health insurance [4]. - Only $8,000 of Miguel's total debt is attributed to the business, indicating that the equipment investment was not a financial mistake [6]. Group 3: Recommendations - The hosts advised Miguel to maintain his business but to stop relying on it as a full-time income until it grows, suggesting a reduction in hours and clearer limits on his time commitment [5][6].