A 27-year-old Texas man called into "The Ramsey Show" to ask how he and his wife, who earns $60,000 a year, could handle about $100,000 in debt — including a $27,000 car loan — while he stays home with two young children.
Personal finance host Dave Ramsey immediately zeroed in: "You don't drive a $27,000 car with a $60,000 income." He told the caller, whose name was Jesse, that this was a clear sign the couple needed to sell the car and reset their financial priorities.
