Rachel from Eugene, Oregon, called "The Ramsey Show” for help after her husband's construction business had collapsed, leaving their family in serious financial trouble.
She said they owed more than $90,000 in combined personal and business debt, including credit cards, a truck loan, and a trailer purchased earlier this year. With three children and another on the way, Rachel said her husband hadn't received a paycheck in three months, and they had "about $25" left in their checking account.
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Urgent Action, Not Apprenticeship
Personal finance expert Dave Ramsey asked what her husband planned to do next. Rachel said he was considering becoming an electrician apprentice, but Ramsey said the family could not afford to wait for long-term training to pay off.
He pointed out that construction jobs were available locally and advised her husband to "get on three different crews and work like a maniac."
Co-host John Delony said the family was close to losing electricity and other basic utilities. Ramsey added that not working was "not an option" and said Rachel's husband should take on "six jobs," including possible overnight shifts at Walmart to keep the household running.
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Sell What You Can And Focus On Essentials
Rachel said the couple owned a home worth roughly $250,000, with $175,000 still owed on the mortgage. Their truck was valued at around $6,000 but carried a $14,000 balance, while the trailer, purchased for $17,700, could be sold to reduce debt.
Ramsey urged them to complete any remaining construction projects on weekends and direct every dollar toward essential expenses.
He outlined what he described as a clear order of priorities: food first, then utilities, the mortgage, and finally the truck payment. Ramsey said the focus was to keep the family "warm, housed, and fed."
Rachel mentioned that her husband had already been working 60 to 80 hours a week for months but wasn't earning money because his business had stalled.
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When To Let Go
When the conversation turned to selling their home, Ramsey suggested holding off for now. He said the problem lay in income, not assets: "You don't have a home problem; you have an income problem." If her husband secured steady work, Ramsey added, they could rebuild quickly through consistent, well-paid labor.
He also addressed the emotional strain, saying he understood the fear that comes with financial collapse. Ramsey told Rachel her husband's business failure did not define him as a person and that he was "a good guy and a good dad."
As the conversation continued, Delony asked Ramsey when a struggling business owner should walk away. Ramsey replied that most wait too long to accept reality.
"We always hang on that much longer," he said. "Your dream becomes a nightmare when you hang on five months too long."
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