29-Year-Old With $1m In Debt Going Viral After Call With Dave Ramsey

empty wallet

A viral video featuring a young woman seeking financial advice from Dave Ramsey has taken the internet by storm.

The video in question was recently posted to Ramsey’s TikTok account and depicts the 2018 exchange between a 29-year-old woman and the financial adviser. In the video, the woman can be heard asking for help to pay off her and her husband’s debt, which was close to $1 million. She also indicated that she did not want to file for bankruptcy and wanted to find a way to pay off the debt without doing so.

The majority of the couple’s debt was from personal credit card bills and student loans. The woman mentioned that both she and her husband had advanced degrees, which were responsible for more than one-third of their total debt. Which is a lot more than the average household debt in the U.S

Dave Ramsey helps young couple tackle a $1,000,000

As mentioned above, the woman began the conversation by telling Ramsey that they wanted to be debt-free without filing for bankruptcy. Ramsey’s first question was about their mortgage payments, to which the woman replied that only $210,000 of their debt was related to their house payment. This left Ramsey slightly perplexed, and he inquired about the rest of their debt.

The woman then revealed that $335,000 was related to student loans, and the remaining debt was a combination of credit card debt and additional student loans. This information prompted Ramsey to provide advice on how to manage the debt and eventually become debt-free.

Dave Ramsey then proceeded to ask the couple about their household income, to which the woman disclosed it was “about $230,000.” Ramsey followed up with, “Is there recognition on both your parts how absurd this situation is?” The woman confirmed, and Ramsey responded with, “Good.”


Ramsey gave the couple some tough love. He stated, “Well, you’re scared, and you should be. You’re disgusted and you should be. You’re in the early stages of being sick and tired of being sick and tired and you should be.”

He continued, saying, “So I’m getting ready to destroy your life as you know it because your lifestyle is considerably above your extremely good income and has been for a period of time. You’ve gotten used to spending like you’re in Congress.”

Ramsey then advised the couple, “You’re gonna have to not care what anyone thinks, including each other because you’re not gonna spend any money on anything ever for the next three years.”

He went on to explain that the couple needed to make drastic changes to their lifestyle, including cutting up their credit cards, selling their fancy cars, and downsizing their home. Ramsey emphasized that the couple needed to be willing to make sacrifices and to be disciplined with their spending habits.

Despite the harsh advice, Ramsey assured the couple that he believed they could become debt-free if they followed his plan. He urged them to stay committed and to focus on their long-term financial goals.

At the end, Ramsey reminded the couple that they were not alone in their struggle with debt. He encouraged them to seek support from friends and family, but also to be cautious of those who might not understand their journey towards becoming debt-free.

Overall, the exchange between the young couple and Dave Ramsey was a wake-up call for many viewers, highlighting the dangers of overspending and the importance of financial literacy.

Final Thoughts

Ramsey’s advice was centered around living a frugal lifestyle, creating a budget, and using the snowball method to pay off the debt. The snowball method involves paying off the smallest debts first and then working towards the larger debts. Ramsey also suggested selling any assets that could be used to pay off the debt.

The video has sparked a lot of discussion around debt management and has prompted many people to seek Ramsey’s advice. Ramsey is a well-known financial expert who provides advice on managing debt, saving money, and investing. He has written several books on the subject and has a popular radio show and podcast. While some of his methods can be somewhat controversial in the finance world, he is a the foremost expert at erasing debt.


C. James

C. James is the managing editor at Wealth Gang. He has a degree in finance and a passion for creating passive income streams and wealth management.