<body><div> EXPERTS on the Dave Ramsey Show have advised a couple on crucial steps to get out of credit card debt. They spread $20,000 across <a href="https://www.the-sun.com/topic/credit-cards/" rel="nofollow"> multiple cards </a> after being in a fairly positive financial position just one year earlier. <figure class="wp-caption alignnone" id="attachment_12704417"><img src="https://img.particlenews.com/image.php?type=thumbnail_580x000&amp;url=1OSnQV_0wCMjZbF00" alt="https://img.particlenews.com/image.php?url=1OSnQV_0wCMjZbF00" width="960" height="495" ><figcaption class="wp-caption-text">Dave Ramsey (right) and George Kamel (left) have advised a couple with serious debt </figcaption> YouTube/The Ramsey Show Highlights </figure><figure class="wp-caption alignnone" id="attachment_12704428"><img src="https://img.particlenews.com/image.php?type=thumbnail_580x000&amp;url=1v2YTE_0wCMjZbF00" alt="https://img.particlenews.com/image.php?url=1v2YTE_0wCMjZbF00" width="960" height="640" ><figcaption class="wp-caption-text">The pair had $20,000 spread across two to three credit cards (stock image) </figcaption> GETTY </figure><nbtemplate data-id="AdPlaceholder" data-content="JTdCJTdE"></nbtemplate> “We weren’t in this shape last year, but circumstances kind of changed for us,” <a href="https://www.the-sun.com/where/south-carolina/" rel="nofollow"> South Carolina </a> resident Josh told Dave and George Kamel over the phone during a recent series <a href="https://www.youtube.com/watch?v=7Pa3Dfwgpic" rel="nofollow noreferrer noopener" target="_blank"> episode </a> . Josh explained that the <a href="https://www.the-sun.com/topic/debt-help/" rel="nofollow"> debt </a> was relatively high interest, and they had a paid-off <a href="https://www.the-sun.com/topic/cars/" rel="nofollow"> car </a> they had hoped to sell to get them out of the hole. While asking what the experts thought was best, Dave immediately cut Josh off to figure out exactly how Josh went from debt-free to $20,000 owed. The situation was also worse than expected, as the debt-free situation saw Josh and his partner selling their previous <a href="https://www.the-sun.com/topic/homes/" rel="nofollow"> home </a> for a considerable profit, having around $90,000 in a joint <a href="https://www.the-sun.com/topic/money-saving/" rel="nofollow"> savings </a> account. Somehow, that $90,000 was all spent, along with an additional $20,000 in credit. <nbtemplate data-id="AdPlaceholder" data-content="JTdCJTdE"></nbtemplate> “What did you spend this money on, man?” Initially, Josh wouldn’t give the experts a straight answer. <h2 class="wp-block-heading"> DECORATIVE DOWNFALL </h2> He later noted that the money was spent on over $8,000 in decorations and <a href="https://www.the-sun.com/topic/homeware/" rel="nofollow"> homeware </a> for a house the couple didn’t own. As for the other $102,000, Josh only noted that it was spent on “dumb decisions,” most pertaining to the rented space. Dave emphasized that the reason he and George wanted to know what the money was spent on was to hopefully help Josh and his partner change their spending behavior.  That way, they could avoid ever getting into the same position in the future. “If you don’t stop what put you into the credit card debt, and you sell the car, you’ll repeat the pattern,” Dave told the South Carolina resident. <nbtemplate data-id="AdPlaceholder" data-content="JTdCJTdE"></nbtemplate> Dave added that he would pay for the pair to go through <a href="https://www.ramseysolutions.com/ramseyplus/financial-peace?campaign_id=701PY00000HaAOrYAN&amp;gad_source=1&amp;gclid=CjwKCAjwjsi4BhB5EiwAFAL0YCATQqMKdz9_iALAUooBZ_18w4Y3F_xXhLQx0NhTYVPd3flC7C-zQhoCVeEQAvD_BwE" rel="nofollow noreferrer noopener" target="_blank"> Financial Peace University </a> , a program created by experts with the Ramsey Solutions, to help them on their path to getting out of debt and building wealth. The program typically costs $99. <h3 class="article-boxout__headline"> What's a good credit score? </h3> FICO, the most widely known credit scoring system, and its rival VantageScore both use a range of 300-850 points. Below we list what’s considered a good and bad credit score, according to both systems. FICO <ul><li> Poor: 300-579 </li><li> Fair: 580-669 </li><li> Good: 670-739 </li><li> Very good: 740-799 </li><li> Exceptional: 800 or above </li></ul> VantageScore <ul><li> Very poor: 300-499 </li><li> Poor: 500-600 </li><li> Fair: 601-660 </li><li> Good: 661-780 </li><li> Excellent: 781-850 </li></ul><nbtemplate data-id="AdPlaceholder" data-content="JTdCJTdE"></nbtemplate><h2 class="wp-block-heading"> INCOME BOOST </h2> Additionally, Dave advised that the couple improve their monthly income, as they were only bringing in around $3,500 per month combined. With one <a href="https://www.the-sun.com/topic/parenting/" rel="nofollow"> child </a> and another on the way, it would drastically help relieve their expenses. It wouldn’t be the first time experts with the Dave Ramsey Show advised someone that they had to change their financial behavior before making any drastic moves to get out of debt. Even a 61-year-old who was debt free with $624,000 saved needed to know <a href="https://www.the-sun.com/money/12381125/retirement-debt-free-investing-dave-ramsey-show/" rel="nofollow"> more about investing </a> from the show to be secure for the rest of his life. A person with <a href="https://www.the-sun.com/money/12268478/poor-mindset-debt-house-payments-dave-ramsey/" rel="nofollow"> $50,000 in debt </a> that called into the show was also advised to lean into their side hustle and fix their “poor mindset” to relieve their woes. <nbtemplate data-id="AdPlaceholder" data-content="JTdCJTdE"></nbtemplate> Dave also <a href="https://www.the-sun.com/money/11305257/dave-ramsey-debt-dad-budget-eating-out/" rel="nofollow"> helped a couple </a> who made a “frenetic” mistake get out of $46,000 in credit card debt. </div></body>

Mountain View, CA

EXPERTS on the Dave Ramsey Show have advised a couple on crucial steps to get out of credit card debt. They spread $20,000 across multiple cards after being in a fairly positive financial position just one year earlier. “We weren’t in this shape last year, but circumstances kind of changed for us,” South Carolina resident […]