How Do I Get My Boyfriend To Make More Money?

0:00If your private student loans are in default, you're not out of options. Go to YRefi.com slash Ramsey. My boyfriend and I just had a baby. He's 11 weeks old right now. Boyfriend is a car salesman and has not been making sales. So I have been paying all of our bills and I can barely cover, I can just cover our bills now and we've been doing okay. When I need to go back to work in just about a month, we're sending the baby to daycare and in the area we live in, daycare can be up to $3,000 a month and there's no way I can afford it anymore. So with my boyfriend not making any sales and we don't know when and if he's going to start making sales, I'm really struggling to figure out how we're going to make it. Okay, a lot here. So let's talk about your income first just because you're not married and I know your boyfriend is the father of the baby and I appreciate all that.

1:00We'll get to him in a moment. I got thoughts on that whole situation. Boy do I have some thoughts George, but what's going on with you and your ability to make more money? What's happening there? I understand the outrageous cost of child care, believe me, but what has changed because the way you kind of laid that out, I'd like to know what's behind all of this. So I make $145,000 a year, I work in tech. Fantastic. Yeah, so and I live in, the city is pretty expensive and it's a very long story behind this that I want to get into, but basically I live in my dad's house and when my boyfriend moved in, actually just like pretty recently, my dad increased the rent of this house. So it's now $3,000 a month, which isn't astronomical, but with all the bills and, what was it

2:04prior to that? It was $2,200. Okay, so you had an $800 increase there. What's your debt situation? I stupidly have a car that I still owe about $15,000 on it, but that's it. No credit card debt or school loans or anything. Okay. So George, a quick analysis, she's making good income, very good. Your income is great. It sounds like he's about to be a stay at home dad if he doesn't come up with income quick. That's a good thing. Is he capable of that? Would you even trust him with that role? That is the problem. I wouldn't necessarily trust him and we've been having a lot of relationship issues. Okay, rule number one, don't have a baby with someone you wouldn't trust to watch your child. Yeah. Right. It was, it was not, we did not plan it this way. Okay. Well, okay. All right. All right. So much, so much there. Okay. I'm not going to dive into that lane, although I get it. And to that point, he shouldn't be your boyfriend.

3:08He, because of that moment, is the father of this child. But you don't trust him to actually be the father of the child. You should dump this guy really soon. Multiple reasons why. And I'll give it back to George and we'll start walking through some money stuff. But number one, you didn't want to have a relationship with the guy. Number two, you didn't want to have a kid with him. Number three, you don't trust him to actually watch your kid. Number four, he can't sell cars. So he's dead weight right now. This guy doesn't need to be in a relationship with you. And he certainly does not need to be in that house with you. So I would legitimately dump him for those four reasons. And by the way, you can quote me and he can go watch the segment on YouTube. But I'm not trying to be unkind to him. I just, he needs a wake up call of adulthood.

4:10And the wake up call is you going, buddy, as George said, you're dead weight, you're out. So he's done, done, gone. And maybe he wakes up, but we've got to make plans as though he's not going to wake up. Okay. There's my, there's your, you've got to make this decision in light of the money advice that we're going to give you. George, bringing you in here on $145,000, $15,000 were the debt. Yeah. Okay. You're called in saying that you don't have enough to cover the bills or it's getting tight. I want to challenge the expenses here because yeah. Can you rent for $1,600 a month in your area? So that is another, like the complication that I would be a whole separate call that I kind of don't, I think we probably don't have time to get into. You're a prisoner in this home, aren't you? Basically yes. I had a feeling dad needs you to pay this money. Okay. He actually does it. Well, it could get somebody else. Yeah, it's not your problem. What's actually keeping you in this house?

5:17It's such a long story. I don't have to give it, you don't have to give us a long story, but links twice if you're okay, Ashley. We just want to know. I am fine. Okay. I'll try to say it in 20 seconds. So my dad bought the house a bunch of years ago. It's appreciated and valued significantly, like doubled in value. Like it's a multi-million dollar house. He is in very poor health. He's actually in the hospital right now for the third time in the last two weeks. And he says if he sells the house, he would incur a massive tax bill. And if we wait until he passes away, then we won't incur the tax bill. You'll inherit it. Oh. Yes. Yeah. Yeah. Correct. That is true. That still doesn't mean that we can sit paying three grand a month forever. So I wonder if you kick the deadbeat boyfriend out and get some roommates. That's George's. So go to move. I like that plan. Hmm. Now you don't need to sell the car that you can pay it off aggressively, but you're bringing home what?

6:17Eight or nine grand a month? Yeah. Okay. You can't upgrade. I do. I do. Yeah. I've pretty buttoned up about it. So what's the car payment? Car payment is $350. I'm currently paying $700 per month on it to knock out the principal. So looking at these things here, trying to speed this up, George, I've got $3,000 in rent. I've got $3,000 in child care, future day care. I got $350 in a car payment. So we're right at $6,500 immediately. We've got $1,500 left to pay for gas, food, insurance, and a tiny bit of fun money. Yeah. Now that's not like amazing, but it's a good start and it gets you to survive and thrive on your own. But the garbage. But George, what's the quick fix on that? I think we've already talked about it. I mean, she can make some moves, a roommate. Yeah. If you can get this rent down, you're going to free up to me. Think about it. You split it with two people. Now you're talking three of you in there. You're paying a thousand bucks a month.

7:18If not more, you might charge them more than, you know, a thousand bucks for their spot. And I'm going to, I've given this advice a million times and people may be sick of it. But I think instead of the traditional institutional child care, can you find a retired grandmother who's bored out of her mind and has got all the motherly instincts, we did this with our kids when my wife was working full time. And it's a fraction of the cost. If you're paying three grand in child care, what if you paid $1,500? And I'm not telling you that's the number, but I'm just, we're trying to give you real solutions here between a roommate and an awesome grandmother in your community. Would love to take care of your little guy. That's slashing your costs in half. Yeah. And even shared nanny situations that was existing in your neighborhood. We break up or at least kick deadbeat out. I'm not telling you to break up with them at this point, although I would. But if we kick him out and then hopefully he wakes up, start selling something. The sad part is we just have to assume that it's going to be status quo and that he's

8:21not going to contribute. You have to craft a plan forward with or without him. And right now it's without him. What did I leave out George? What else would you do on that reducing cost now that you know what her margin is? I mean, you're going to have to keep this job. You have hopefully it's steady and work on getting rid of all of the expenses in your life. The car is one of them bringing down the rent. I can't, you know, solve the daycare problem instantly, but I think you at least have more options than you think. And even then, you got some room left over, which isn't a terrible thing. So I would use every dollar, craft a budget tonight and then go, what does the next six months look like? What does the next year or two look like? And hopefully this is just the season and you'll be out of it. YRIFI refinances, defaulted private student loans for struggling borrowers. And more at YRIFI.com slash Ramsey.