"We're In $580k Of Debt At This Point"

Brought to you by the EveryDollar app. Start budgeting for free today. Normal is broke and common sense is weird, so we're here to help you transform your life. From the Ramsey Network in the Fairwinds Credit Union Studio, this is the Ramsey Show. And I'm Rachel Cruze hosting this hour with my good friend and cohost of smart money happy hour, George Campbell. And we'll be answering your calls. So give us a call at (888) 825-5225, and we'll be talking about your life and your money. First up, we have Jimmy in Los Angeles. Hi, Jimmy. Welcome to the show. Hey, Rachel. Hey, George. Big fan of y'all's. Thank you so much for what you do. I really appreciate everything that you guys do, And I've gained a lot of knowledge these past few weeks, learning more about what you guys do and how to kind of like financially plan my future. Yeah. But I've kind of gotten myself into a sticky situation. And I'm just trying to see if I can, like, maybe get some guidance on trying to find a way out. Sure. So what's going on? So, late twenty twenty four, you know, I retired from the military. I served for twenty two years. And, earlier that year, I decided to open up like a kinda like a shop and, where we just do, like, detail services, paint protection film, wraps, and things like that. And, yeah, it actually cost me a lot of money throughout that year. I'm sure. How much? To the point well, we're at a point now where we're, like, like, $580,000 in debt at this point. Okay. That first year, we took, like, a $220,000 loss. Admittedly, I think I hired too many people full time. Kinda went in too fast and, too hard on that. And, yeah, it kinda really hurt me. So I had to take had to take, like, an SBA loan to kinda get caught up and used a bunch of credit cards. And then the year after, we netted so just last year, we netted about 35% net loss. So, we had another net loss, but Jeez. It was a better net loss. And, You're still throwing money at this thing? I'm still throwing money at this thing. I mean, it seems like you're oh, it seems like we're we're kinda, like, making a way out of that. And And what's what's the stop loss here? A million dollars in debt, and then we'll call it quits? I mean, at some point, you just gotta go, this ain't it. I would rather pack it up now versus try to it's like a gambler where they lost a bunch of money in Vegas, and they go back to go, like, well, now I gotta win even bigger to get out of this mess. Right. That's what I was afraid of. And and, you know, through this process, I kinda been, you know, a free labor. So …