‘Suck it up’: This Virginia man says his 23-year-old wife wants to quit her job because it has no ‘meaning’ — but they’re having a baby and owe $57K. Dave Ramsey gave a blunt response
The pursuit of fulfilling, meaningful work is universal. But some people have more immediate concerns, such as paying off debt and raising a family. Financial guru Dave Ramsey’s advice to this cohort is simple: “You suck it up and put a callus on your hand and you do the work.”
Ramsey made the comments on a recent episode of “The Ramsey Show” where he spoke with Alex from Norfolk, Virginia.
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Alex’s wife has quit several jobs in recent years, typically after about six months, simply because the work wasn’t satisfying or she found it too stressful. This wasn’t much of a concern to Alex until recently, when the couple learned they had a baby on the way and their debt burden was larger than they realized.
Despite this precarious position, Alex’s wife was on the verge of quitting yet another job. Here’s why Ramsey wasn’t too pleased with that decision.
New baby = new expenses
A month ago, Alex and his wife discovered they were expecting a baby. Adding a new member to the family can be exciting, but also expensive. The average cost of raising a child in the U.S. is $20,813 annually, according to consumer finance site SmartAsset.
Alex said he wasn’t worried about the cost, at least initially. “We’re financially stable,” he told Ramsey. “I don’t have to worry about knowing if we’re going to be able to afford the baby or not because I know that we can.”
However, his confidence was shaken when his wife told him she felt “dissatisfied” and stressed with her current job and wanted to quit. She’s employed as a social worker, earning roughly $2,300 a month, and wants to save up to go back to school. Alex, who makes $4,200 a month, believes their combined income is critical for their financial stability.
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“If she’s planning on moving to a different job, that shakes my structure, it shakes my rock,” he said.
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To make matters worse, the couple is dealing with a large pile of student loan debt. Alex said they pay $3,000 a month to manage his wife’s total outstanding balance of $57,000. “We thought it was a lot less than that until she graduated and we looked at the numbers, and it was twice [what we expected].”
As of May 2023, the average federal student loan debt was $37,338, according to the Education Data Initiative. Alex’s wife owes considerably more than that, which puts the couple in a particularly difficult position.
Ramsey doesn’t recommend switching jobs in this condition. He believes there are two key reasons why people should work, even if they don’t feel like it.
Work can’t always be fulfilling
According to Ramsey, people need to work for one of two reasons: self-actualization or necessity. People with financial stability can look for work they’re passionate about to add “purpose and meaning” to life, he said.
However, for most people, work is a necessity: “We’re grown-ups and we have to feed our family.”
In his opinion, Alex’s wife needs to start taking responsibility. “She has never once stiffened her backbone and walked through a tough time. Every time the wind blows, she goes out the door, that’s who you’ve described to us,” he said. “She has a baby on the way and $57,000 in debt. This is when you suck it up.”
However, this advice might not resonate with someone in their early 20s.
Almost 70% of Gen Z and millennial Americans surveyed by LinkedIn said they planned to quit their jobs this year. Young workers are dissatisfied, even as they deal with mounting debts and the rising cost of living.
“[Gen Zers are] more passionate about finding a job that aligns with their personal values, and they’re confident that switching jobs will help them get there,” said Karin Kimbrough, chief economist at LinkedIn, to CNBC Make It.
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This article provides information only and should not be construed as advice. It is provided without warranty of any kind.