Mission:Nontrivial

04 June 2006

Crazy debt

Don't be Rachel.

She asks this financial question to Dave Ramsey on wnd.net:
I think I made a big mistake when I bought my car. I'm having a hard time affording the $500 a month payments because I only make minimum wage at my job and work 35 hours a week. My boyfriend, who was supposed to help me pay for it, has moved out and left me. I owe $20,000 on the car, but I know it's still worth about $19,000. What can I do? -Rachel

Rachel is spending more than half of her monthly earnings (not counting FICA) on her car. I hope there's room to sleep in the back, and she doesn't have to drive it anywhere.

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