Core Insights - A married couple, despite a combined income of approximately $175,000, has accumulated $118,000 in debt after previously filing for bankruptcy in 2019 [1][2] - The couple's financial issues stemmed from lifestyle choices and a lack of financial management, particularly due to one spouse's disengagement from financial oversight [4][6] Debt Accumulation - The couple's debt increased after purchasing a home, with Jo being approved for around 18 credit cards to finance furnishings and lifestyle expenses [3] - The breakdown of their debt includes approximately $45,500 in credit card debt, a $40,000 car loan, roughly $16,000 in online personal loans, $9,500 in pay-over-time financing, and about $1,300 owed to the IRS [5] Financial Management - Personal finance expert Dave Ramsey emphasized that income alone is insufficient to resolve their financial issues and called for significant changes in their financial habits [2][6] - Ramsey highlighted the importance of shared financial oversight and a mutually agreed-upon monthly budget to prevent recurring financial problems [6] Relationship Dynamics - Jo expressed that income disparities have led to resentment in the relationship, with her sometimes blaming her husband for their financial difficulties [7]

Beth Gwinn / Getty Images If you really want to achieve wealth, taking a page out of personal finance guru Dave Ramsey's playbook isn't the worst idea. Ramsey often offers advice that runs the gamut, from addressing your spending to examining your lifestyle. But if you follow his suggestions and use these five key tools, they can — in time — help you reach your financial goals. Key Points Eight out of 10 millionaires invested in their company’s 401(k) plan. The stock market has delivered an average ...

Key Points Budgeting gives you a handle on your money. Automating contributions keeps you on track. Investing strategically lets your portfolio do more of the hard work. The $23,760 Social Security bonus most retirees completely overlook › The start of a new year is a good time to take stock of your financial goals and come up with a plan to meet them. And one of your goals may be to boost your retirement savings in 2026. It's a good goal to have. The average Social Security benefit for retired ...

When financial burdens feel stressful, most people don’t need a perfect budget or a five-year plan, they just need relief. Financial overwhelm is incredibly common, but experts say the way out isn’t through strict rules or dramatic overhauls. It starts with small, “good enough” moves that lower stress, create stability and help you feel in control again. Experts offered some simple attitudes and habits to make your finances feel lighter faster. 1. Start With One Honest Look at Your Spending When you’re ...

"If you have credit card debt, you have to get rid of it," said Jay Zigmont , a certified financial planner and founder of Child-Free Trust, an estate planning firm that works exclusively with child-free clients. "You will not beat paying off credit card debt in interest, or investing in the market."Financial advisors all agree on one thing: Credit card debt is the single biggest wealth killer. The average annual percentage rate (APR) on credit cards was 21.39% as of August 2025 , according to the latest Fe ...

Financial Goals and Resolutions - The start of a new year is an opportune time for individuals to review and realign their financial goals, focusing on both short-term and long-term objectives [1] - Financial resolutions for 2026 should emphasize an optimistic yet realistic vision for the future, encouraging individuals to clarify the reasons behind their financial strategies [2] Actionable Plans - To avoid unrealistic expectations, financial coaching emphasizes creating actionable plans rather than setting vague resolutions, which can lead to disappointment [3] - A practical approach includes tracking progress and adjusting plans as necessary, such as checking credit reports and establishing a savings account with manageable contributions [4] Budgeting Strategies - Creating a budget is a fundamental step in achieving financial goals, with various techniques available, including the 50/30/20 plan [5] - Individuals facing financial challenges, such as job loss, may need to reassess their finances and explore options like debt consolidation to manage and pay off debt effectively [6]

Shutterstock / WS-Studio Moneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below. During an episode of The Ramsey Show, a 73-year-old Arizona resident named Robin shared that she has no 401(k) and more than $12,000 in outstanding student loan debt — but is considering buying a home in the next three years. Host Dave Ramsey then asks, “How would you be able to buy [a house] if you don’t have any money?” Robin says she expects to pay off the student loan by March ...

Rocket Money’s concierge service can also help you lower your bills . Their negotiator works on your behalf to get the best rate on your cell phone and cable bills.Rocket Money’s subscription management algorithm can help you identify your recurring subscriptions that may be draining your budget. With their concierge services, you can access their subscription cancellation assistant, and cancel any unwanted subscriptions with a couple of taps. This way, you can potentially save up to $740 per year .All you ...

If you’re pulling in six figures and still feel like you’re drowning in bills, you’re not alone. One caller to The Ramsey Show makes $126,000 a year and still thought bankruptcy might be his only way out. But as hosts George Kamel and Jade Warshaw asked more questions, the real issue came into focus: Peter from Philadelphia didn’t actually know how much he owed, had no budget and had little idea where his money was going. Must Read After reviewing his accounts, he realized the balance wasn’t $25,000. ...

Personal finance expert, author and host of The Ramsey Show, Dave Ramsey often provides guidance on topics like budgeting, paying off debt and building wealth. One area in which he frequently berates callers on his show? Wasting money. Here are five of the scariest ways to waste money, according to Ramsey. Not Having a Written Budget It’s often said that, when it comes to wealth building, it’s not about how much you earn; it’s about how much you keep. And failing to plan means planning to fail. Oversp ...