A Dave Ramsey video from a few years ago has recently gone viral where he spoke to a woman who is one million dollars in debt. The debt is shared between her and her husband. They make over $200,000 per year in combined income, but they spend over $300,000 per year. $800,000 of that debt is not their mortgage. Much of the debt they have accrued come from credit cards and personal loans. The video may have gone viral recently because of the current state of the economy. Debt from all angles is at an all-time high.
In recent years, many stories of people struggling to make ends meet while also making more than most people would ever dream of have come to light. This is not necessarily an uncommon thing, however, it should not be happening. Too many people try to live up to imaginary lives played out on Instagram and wind up in a mountain of debt that seems totally insurmountable.