'I'd Rather You Eat Before The Dog' – Ramsey Show Host Tells Broke 86-Year-Old To Get A Job And Rehome Her Pet Instead Of Sell The House

Joan, 86, finds herself at a challenging financial crossroads. Despite owning her home and car, she's burdened with nearly $30,000 in credit card debt. Living on a fixed income from Social Security, Joan struggles to make ends meet, often relying on her credit card to cover essential expenses.

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"I have help from my daughter and ex-husband," Joan shared. "But it's embarrassing to ask for more." Joan is left with about $200 monthly 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 realized it wouldn't significantly reduce her debt. "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 make a dent in your debt," Kamel advised. "You're better off keeping it for transportation." The suggestion to sell her home was also considered, but Kamel cautioned against it. "Right now, you have a fixed expense with your paid-off house. If you sell it to pay off the debt, you'll be left with ongoing rent expenses, which could be even harder to manage on your Social Security."

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Joan's home is worth between $195,000 and $250,000, significantly less than neighboring properties that have been updated. "It's old, and I haven't made any updates," she explained. Kamel pointed out that while selling her home might clear her debt, it would leave her with the challenge of finding affordable housing, especially given the rising cost of living. "It doesn't make sense to sell your home if you'll struggle with rent," he said.

One of the toughest parts of Joan’s situation is that her income isn't enough to cover her monthly expenses. "I always need about $200 more, and that's where the credit card comes in," Joan explained. Kamel highlighted the cycle of debt that this creates. "Even if I could snap my fingers and clear your debt today, you'd be back in the same place because your expenses exceed your income."

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Kamel suggested Joan explore the possibility of increasing her income. He suggested to the 86-year-old, ‘'I think we might need to find a little part-time job to clean up this debt and increase our income." He continued, explaining, "It's not fun, but this might be your only option other than selling the house and downgrading to an apartment." Joan, who has been living with leukemia for 21 years, acknowledged her health challenges. "I don't really have a high energy level," she said. Despite this, Kamel emphasized that finding even a small source of additional income could make a significant difference.

Joan also discussed her expenses, including caring for her dog. "This month, I spent $181 on the dog," she noted. Kamel empathized but stressed the importance of prioritizing her own needs. "You've got to make sure you're taking care of yourself first," he advised. Then he layed it out, "I’d rather you eat before the dog."

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In the end, Kamel offered a hard but necessary truth: "Joan, you've worked hard your whole life, and now you're in a tough spot. 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 a little extra, or even rehoming the dog, these decisions will help you get through this."

Although Joan may not have the physical ability to work part-time, many people in their 80s are still working. According to the Los Angeles Daily News, 650,000 Americans aged 80 and older are still in the workforce, based on data from the U.S. Census Bureau. The Pew Research Center also found that nearly one-in-five Americans aged 65 and older were employed in 2023 – almost double the share from 35 years ago.

For many seniors, working isn't just about staying active; it's necessary. A National Council on Aging study revealed 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 choices and must consider all their options carefully.

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