“I’d rather you eat before the dog” – Ramsey Show host advises 86-year-old woman who is penniless to get a job and give her pet a new home instead of selling the house

Joan, 86, is at a difficult financial crossroads. Although she owns a home and a car, she is saddled with nearly $30,000 in credit card debt. Joan lives on a fixed income from Social Security and struggles to make ends meet, often relying on her credit card to cover necessary expenses.

Don’t miss:

“My daughter and ex-husband help me,” Joan says. “But I’m embarrassed to ask for more.” Joan is left with about $200 a month after paying her bills, which barely covers food and gas. Selling her car, a 17-year-old Crown Victoria, seemed like an option, but Joan knew it wouldn’t reduce her debt much. “I’d rather keep the car to get around,” she admitted.

Seeking advice, Joan turned to the Ramsey Show, where George Kamel provided much-needed clarity. “Selling your car won’t reduce your debt,” Kamel advised. “You’re better off keeping it to get around.” The suggestion of selling her house was also considered, but Kamel cautioned against it. “Right now, with your house paid off, you have a fixed expense. Selling it to pay off the debt will leave you with ongoing rental costs that will be even harder to cover with your Social Security.”

Tendency: Will the upswing in property prices continue or decline? People are learning about risk-free real estate investments where you can cash out at any time.

Joan’s house is worth between $195,000 and $250,000, significantly less than the upgraded houses next door. “It’s old and I haven’t done any renovations,” she explained. Kamel pointed out that while selling her house could pay off her debt, she would face the challenge of finding affordable housing, especially with the rising cost of living. “There’s no point in selling your house if you’re having trouble paying rent,” he said.

One of the most difficult aspects of Joan’s situation is that her income is not enough to cover her monthly expenses. “I always need about $200 extra, and that’s where the credit card comes in,” Joan explained. Kamel illustrated the cycle of debt this creates. “Even if I could snap my fingers and pay off your debt today, you’d be back in the same place because your expenses exceed your income.”

Tendency: Commercial real estate has historically outperformed the stock market, and This platform allows individuals to invest in commercial real estate starting from as little as $5,000 and offers a target return of 12% plus an additional 1% return boost today!

Kamel suggested Joan explore the possibility of increasing her income. He suggested to the 86-year-old, “I think we need to get a small part-time job to pay off this debt and increase our income.” He went on to explain, “It’s not funny, but that may be your only option other than selling the house and moving into an apartment.” Joan, who has lived with leukemia for 21 years, admitted she has health problems. “I don’t really have a lot of energy,” she said. Still, Kamel stressed that even a small additional source of income could make a big difference.

Joan also talked about her expenses, including caring for her dog. “This month I spent $181 on the dog,” she noted. Kamel was sympathetic but stressed the importance of prioritizing her own needs. “You have to make sure you take care of yourself first,” he advised. Then he laid it out: “I’d rather you eat before the dog.”

Tendency: Elon Musk and Jeff Bezos are optimistic that one city could dethrone New York and become the new financial capital of the USA. Investing in the booming real estate market has never been easier.

In the end, Kamel spoke a harsh but necessary truth: “Joan, you’ve worked hard all your life and now you’re in a difficult position. It’s not easy, but you have to consider all your options. Whether it’s asking your daughter for more help, finding a way to earn some extra money, or even rehoming the dog, these decisions will help you get through this.”

Although Joan is physically unable to work part-time, many people in their 80s still work. According to the Los Angeles Daily News, the U.S. Census Bureau says 650,000 Americans age 80 and older are still employed. The Pew Research Center also found that by 2023, nearly one in five Americans age 65 and older will be employed—nearly double the number 35 years ago.

For many seniors, working isn’t just a way to stay active; it’s a necessity. A study by the National Council on Aging found that 80% of older Americans don’t have the resources to pay for long-term care or handle another financial shock. With rising living costs and limited income, seniors often face difficult decisions and must carefully consider all of their options.

Read more: