Are We Bankrupt? 

You can't solve a problem while simultaneously creating it. Great comment from Jade.

I like the term “dream deferred”. Not cancelled or shattered, but deferred….. maintains hope and focus.

She want to be a full time mother and full time college student? 4 kids and home school? And Husby only make 40k?

She should not be in school. She's wasting money for a low paying degree

Filing for bankruptcy isn't going to make your student loan debts go away. Their problem is they have all these wants but no money in the bank to fund them, which has caused them to rack up all the debt that they have. Live within your means, until you can afford to do other things. This is a mistake that could have been avoided on their part.

Amazing to me how ppl bring children into this world when they can bearly stand on their own two feet

Love when he said “if you put your kids in public school and get a job you can breathe”. The answer is so obvious and simple but people want to have their cake and eat it too.

I’m sure this advice was hard to hear, but was REALLY spot on. As someone in the mental health field, high paying jobs are rare. It will take her FOREVER to pay that loan back. And one thing people don’t think about it, even when you graduate, you’ve got at LEAST 2 years of low-wage work while you are working toward state licensure.

The fact that put education for a $50k-$70k job above their children being able to be in a better situation is absolutely irresponsible. Also an assistant manager at Mcdonalds makes more than $36k year! Playtime needs to be over! Grow up!!

If this woman is planning on home schooling her 4 kids, when in the hell is she going to be a clinical therapist? I have never heard of a 3rd shift therapist, but I guess that's possible haha. This woman and her husband are probably nice people although they are so beyond out of touch with reality.

Bad decisions after bad decisions! Thank goodness for the hosts speaking some truth.

I clean sewer lines for a living which took no school and make 100,000 a year 😅

You can barely afford one kid let alone 4.

$130k in debt to make a combined $60k, that’s terrible investment!

30K? Either her husband lied about his degree or he isn’t really looking properly. A part-time highschooler makes that.

Two irresponsible people decided to have 4 children. Nice

4 kids, 3 of which she said were too young for school, they certainly didn't waste any time 😳

they should be at the median for their LOCATION. 67k in NYC is not the same as 67K in Americus, GA

They were busier working in the bedroom than at their actual jobs

Did her husband go to “coding school” or did he get an engineering degree… I’m guessing he did a coding boot camp and quite frankly companies do not hire people with only coding boot camp experience.

Having 4 kids before working on education makes life more difficult. Rearrange priorities to get debt free.

The student loans are the largest portion and those aren't going away.

I remember these days when our children were young. I worked nights, and my husband worked days. Yes it was very tiring but while the children were asleep, I would take a nap and then wake up and do my homework. The sacrifice was challenging but well worth it. Now they are all adults and I have my Masters. It took me 10 years to get it!

A1! I love Jade's vernacular, she makes me feel like Ramsey solutions cares

John is so good with this, love his advise. Good team, thank you. 😊

4 kids making under 60k a year Sell the kids They are hopeless

4 kids means you go to work. School? Seriously.

Well that took about two seconds to figure out what the problem is. She doesn’t work full time and is taking out big debt so she can continue to not work while homeschooling… why exactly? He’s only making $36,000 why exactly? I bet she’s only still in school because it defers repayment.

Coding and software is a TRAP. New positions are being filled by experienced (6yrs+) engineers not someone out of boot camp. Also, there is a major shift of outsourcing where many positions are opening in low cost of living countries. Add in AI and it's over

Great discussion! The truth is necessary!

30k as software support, doubt it. Way too low. Edit: aiming for a masters in counselling with 80k debt already wracked up on that waste of paper 'degree' YIKES!

Have to be in a small town or something. Mcdonalds down the street from me in Phoenix has a banner saying starting at $17/hr. In N out burger is $20/hr. Which is more than he makes now.. My wife and I go yard sales on Saturdays and make an extra $2k month selling on ebay and that takes 10 hours a week of work

I’m freaking out over 25K in student loan debt

To reproduce like this in a developed country with this income is very shameful

I had student loans and filed for bankruptcy thinking that the debt will go away - it didn't and my wages were garnished. I racked up so much fees in late fees and interest that it almost became more than my loan itself. That fueled me to pay off my loans ASAP. It felt great too after I paid Sally May off.

If the husband attended a "coding bootcamp", the best place to start an IT career is with a consulting firm. It gets your foot in the door. That is how my career started many years ago and it still works today. Based on the salary quoted, my guess is that the husband is working for a small mom and pop shop or a startup.

Where in the Ramsey plan does it say pop out 4 kids with no career or significant income as a student. Wish the hosts would just say "sorry, you are not a candidate for the Ramsey plan". Period. Come back when you make 100k each.

Homeschooling and collecting degrees?

I'm fascinated by the fact that people are so casual about taking on LARGE DEBTS without any serious plan to manage the debt other than "I'll deal with it later". Case and point, the student loan debts. This woman is expecting to rack up $130,000 ($80k+50K, her numbers, probably more in reality). After interest on the loans her total payments will be north of $260,000 on those loans. All that just to make $60k to $80k per year...per a quick Google search on her career field. Sounds more like a hobby than a career. Hobbies are fine if you can pay for them. These folks cannot.

4 kids and 3 of them are too young for school? The daycare cost would be another burden on them if she tried to work full-time. Somebody needs to pause on having kids until more money is coming in.

Probably best to just keep breeding. More kids will fix the issues.

Good teamwork from these two.

Not all codemonkeys are coded equally

Guy makes less than 40K but has four children, stay off of your wife or invest in contraception.

in IT, you change jobs every year to 2 years to get a higher pay. College degrees mean nothing in the IT field with no experience.

Oh wow.... this brought back memories when we were first married over 30 years ago when we both wanted to go to school but needed to put it off until we were financially able to do so. I was able to be home with our son at the time, but instead of working during the day, I worked a few nights during the week and two weekends a month. My husband worked fulltime during the week. This worked for us for a couple years until my son went to school full-time. Then I went to community college, took a class here and there. It took me 12 years to complete a 2 year degree, LOL! But it's all good, did it with no debt paid for each class in cash. My husband completed his MBA part -time in the evenings and his employer paid for it, whoo hoo!! We learned money isn't everything, however, it is everything when it keeps you from the basics that stress you out on a daily, weekly and monthly basis. Then it can truly suck. Once you get out of that, it's much better and you never want to go back :)

I don't mean to sound insensitive, but why do people who can't afford 1 kid have 2 and 3 and 4...??? This caller and her husband created this problem and it's theirs to deal with. Of course give the advice but I guarantee they won't do any of what they told them to.

Damn, what a good episode

Two grown adults should be making over $100k. I make that and I’m single. You’re not trying hard enough.

These no name for-profit school degrees from places like university of Phoenix are worthless. Sounds like her husband got some generic IT degree from some for profit school, and she’s probably doing the same

These two look like rock stars.

“You can’t breathe” and “I can’t breathe” are John’s favorite phrases.

Federal Agency IT positions pay well and are almost always continuous open....

Combined they make a couple thousand more than just myself as a Fedex ground driver, no CDL just a standard drivers license! Also, I have no debt and my car is paid off.

I filed for bankruptcy several years ago. It barely affected me in the least. Have watched my spending since then and I do not use credit cards *unless* an emergency arises. My credit score, which really doesn't matter what it is, is back up in the 700s. Not a big deal. I *also* owe student loan debt of just under $10k. I'll have that paid off as soon as I can.

She needs to focus on her kids. Work to live not work to go to go in debt. They’re digging their own graves and expect others to save them.

She shouldn't have gone back to school. With 4 kids and the bills you have you can't afford it. There was a reason only wealthy people attended college back before these predatory loans came about.

The coder husband is going to work his way to that senior position in his coding career just to even get close to 100k, hate burst his bubble, company I work for was going to hire a software architect, that came from one of the big three tech giants in cloud computing, his starting pay was one third of what he was making when he was let go, also half of the software team I work with is based out of India, it’s the latest trend right now with all tech pull back since last year.

Only take out a student loan if going to an Ivey League or Top 10 university. The rest should think really hard about mortgaging your entire life for a crappy degree that won't be recognized by any decent employer.

Should have 3 more kids to help the situation!!

The government is helping them with benefits

1:02 Jade went out of her way to say ACCRUING. 😂 She got roasted for saying incruing the other day.

With the amount of money in student loans I can safely assume private college? Why aren't they doing a community college or something?

Lesson learned: dont be selfish to get kids, EVEN FOUR, when not financially ready

I think she meant her husband is a coater who breads the chicken at KFC

“I home school” is a euphemism for “I don’t want to work full time.”

Dr John said what needed to be said.

“When I hear what the coders are bringing in this building it made me want to go to coding school” 😂😂😂😂

When fantasy meets math.

Those kids need to go to public school asap

Home school is not for everyone. This woman needs to go work graveyard if thats what it takes. Ive worked graveyard since my first child was born 18 years ago and I've been there for them durimg the day needs. Believe me if a dad can do it, a mom can do it better.

John looking so fine today.

What about a house, apartment, cars? Something has to change, immediately!

Sacrifices are never easy or it is no true sacrifice.

I want versus what I can afford.

Yall did good with Dr John D. He’s a wizard

Jade was confident in this one 👏

Jade and John are my fav!

Beginning of the call I hear she is a "professional student," someone who may be staying in school in order to have or keep student loan repayment deferred. The student loans will survive a bankruptcy, and hers will take ten to twenty years to pay off. IT does not pay off as big as it used to (twenty five years ago, IT made bank), unless her husband hustles to find the right company and he has several years of experience over and above his degree.

She “needed to” 😂

Jade is awesome. Love listening to her.

Jay's lucky shes married or I'd be going after her ❤😂 beautiful and smart

Daddy needs to get to WORK, properly. Apply to 30 jobs, this week. Anywhere in the country. Allowing your wife to bring in 40%of the total income while also looking after the kids and home is abysmal.

I work in automation development for cybersecurity. This guy needs to find a different job. If he has some form of IT background and some experience in coding, he can EASILY make over 70k no questions asked. There’s jobs out there, just gotta hunt through the weeds and noise to find them

Jade is awesome

57k combined with 4 kids? That should be illegal. Absolute madness.

Mr. Know-It-All and the token. Good combo. 😆.

He needs to apply with the government, log onto USAjobs and start searching I see hundreds of jobs in that field and many are remote positions.

Tough talk- don't take out big loans unless the degree will make you way more than enough to pay it off relatively quickly. Therefore, if you are going to take out loans, a counselor had better not take out the same size loans as a doctor, lawyer or petroleum engineer. Who cares about a dream. Live in reality.

Will still have to pay the student loans with a bankruptcy. Just have to work more for a little while.

I moved from Europe in 2011 and was making 65K plus 10K bonus plus 401K etc with almost free healthcare. I thought it was nothing back then. I just don’t get it how Americans nowadays accept jobs below 100K. I would move to Zimbabwe instead.

Opportunity cost. Everything has an opportunity cost. Decide what's most important to you and accept its opportunity cost.

Got to make the sacrifice. We have four kids and homeschool and my husband is in it finishing his degree so right now I'm watching a couple extra kids for more income and it's a sacrifice and I'm tired but it'll be worth it in the end❤

Children need to go to school. Both parents need more or better jobs, and grow up. Stop the further study until you are in a better position.

Seems like they were busy making babies but not asking themselves how they were going to make it work as the children were born. Will her part-time income decrease because she will have less time to work as the 3 younger children start to need home-schooling? Why is her master's degree so expensive, and with their family status and income level, why isn't most of the cost covered by grants? What is her expected income once she graduates and gets a job? Will things even improve once the student loan repayment commences? Why is she _planning_ to take 3 to 4 _more_ years to complete her master's (except maybe to delay the start of the loan repayments). I'm betting the husband got a online "degree" from an online tech school and also was only looking for a job where he could work remotely and that's why the pay is so low. I can't see any other reason an IT person would be making about $17.50/hr. I work in IT (in AZ, not MI), and our undergraduate interns working on 4-year university degrees are making $32/hr.

This is like one of those amazing ideas/ dream they want to pursue. In summary, they desperately need to build cash. Send the kids to public school. Husband need to make at least $50k on that degree and Kylie needs to double her income, ending at $100k. Stop the borrowing immediately and pay them off when the income goes up and use the Dave Ramsey plan to guide the rest. Evaluate your education/ degree based on your career path or lands. Don’t collect degreee for no reason, especially for debt.

Very tough situation with four kids. I assume the husband's income will go up considerably once he has a years experienice

Is childcare free or at least very cheap in USA? I mean advice like:" go to work" when 3 out of 4 of her kids are not even a school age is a bit odd considering that childcare costs for 4 kids are likely to be more than what she could earn(in uk it would be approx £40k to £60k for 4 kids). Most mums in uk barely cover costs of the childcare while working. Unless you can get a real good salary( whigh in her case without a degree doesnt seem likely) stay at home with kids, save yourself a fortune by not laying childcare and let your husband find the best job he can get and worl st it as much as possible and u keep working part time as well

They are alittle out of the loop. You don’t just go to it and earn big bucks experience helps the most

I used to go to a mental health counsler. He said the money isn't in his industry anymore.