Jamie from Chicago says she was on track to paying off her debts, but the imminent loss of her job had her spiraling.
As she explained to The Ramsey Show, she’d buckled down and started following Dave Ramsey’s strict money management plan (1). She had just two debts left: $98,000 on her mortgage and $142,000 in student loans. She also had around $25,000 in her 401(k).
Then came the curveball: Jamie learned her job would be eliminated on Feb. 1, leaving her without a paycheck. She was set to receive a severance of around $16,000 before taxes, which she estimated would cover her expenses for about three months.
“I am kind of freaked out,” she told co-hosts John Delony and George Kamel in a clip posted Jan. 25.
With unemployment looming and self-admitted social anxiety that she feels limits her job prospects, Jamie was struggling to figure out her next steps.
Both Delony and Kamel urged Jamie to take action immediately.
“You have an absolute emergency on your hands,” Delony said.
With six-figure student loan debt, a mortgage and limited savings, a three-month severance cushion could disappear quickly if she can’t find work. Her priority shouldn’t be finding the perfect next role, but finding income and fast. After all, it might take her a while to find a replacement position in this tight job market.
The co-hosts urged her to apply to any job, including temporary or hourly jobs, while also pursuing longer-term career opportunities. The Ramsey team helped her set a goal to see if she can make enough money to save the severance to put toward her debt once her income has stabilized.
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“Now, you’re not a bad person if you touch the $16,000, I’m not mad if you use the severance, but how cool would it be if you didn’t?” Kamel proposed. “Instead of waiting three months, the money runs out, and you go, ‘Well, I guess I need to find a job now.’”
As for Jamie’s social anxiety, the co-hosts acknowledged that losing a job can trigger fear, shame, and old coping patterns, and warned her against “turtling up,” or freezing in place. The message was straightforward: get busy. Action, even uncomfortable action, can prevent panic from turning into paralysis.