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Dave Ramsey was a multi-millionaire by the time he was 26 years old, but he lost everything by age 30. Not only did Dave figure out how to erase his own debt, now the author of The Total Money Makeover teaches millions of people how they can begin to live debt-free on any salary.

Dave wanted to set the record straight for Desiree and Thomas and give them some needed hope. "I've found that when couples work together, they're able to win," Dave says. "When they try to do it separately, everything goes haywire and they run off. And it's not a corporate situation where you can just delegate. This is a relationship, and there's got to be give and take and there's got to be tons of communication."

For Desiree and Thomas, Dave says it's time to start making some sacrifices in their lifestyle. "The bad news is you've got a really big hole you're in," Dave says. "The good news is you've got a good-sized shovel. You're making over $100,000 a year, we've got $160,000 here to deal with. If we can cut back to the average family—which according to the Census Bureau is 40,000 bucks—we're about to trim your lifestyle down and get after this debt. We're going to get really serious. We've got to get on target. Stuff is no longer the target. Those babies in there, their legacy and your changing your family tree and keeping this marriage at a high quality going forward, that's the target. And so we're going to get focused, we're going to get very, very intense and we're going to walk up a series of baby steps."

Dave worked with Desiree and Thomas after the show to determine a plan to tackle their debt.
FROM: Total Money Makeovers
Published on September 13, 2005


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