A salesperson from Vancouver, Canada, recently dialled "The Dave Ramsey" show for urgent financial advice on uncontrollable debts despite his household's total annual gross income of $300,000. Although his monthly take-home pay is $8,500, alongside an additional $2,000 rental income from a two-bedroom apartment, the family's monthly expenses amount to almost $12,000, led by $7,200 in mortgage payments and $420 in property taxes.
As an on-road salesperson, the caller owns multiple cars and uses them for business purposes. One of them cost him $75,000 last year. His monthly auto loan payments were nearly $1,000, while utility bills and insurance for cars and homes cost him $350 and $530, respectively. The remaining expenditures are split between $2,000 in groceries, $150 on gym memberships, and $50 on leasing musical instruments. His wife's $4,000 take-home pay also dropped to $1,600 when she took a maternity leave for their 10-month-old baby. She wants to stay with the child at home for almost another year and is currently drawing the reduced pay from employment insurance.
