A woman named Emily shared on “The Ramsey Show” how a car accident disrupted her family’s life and forced their thriving skincare business to shut down. The business generated $350,000 annually, but after the accident, they accrued $250,000 in business-related debt and $89,000 in personal debt.
Emily and her husband ran a successful organic skincare and candle company, but after Emily was injured in a car accident, they had to close their storefront, their main revenue stream. They now have $250,000 in business debt, $89,000 in personal debt, and $71,000 in car loans.
Despite their efforts to sell online, Emily and her husband struggle to move their remaining $100,000 worth of inventory without their physical storefront. They are exploring ways to reach out to loyal customers and retailers to sell their products and alleviate financial strain.
Emily’s husband makes $90,000 a year, but they are still short $5,600 monthly after covering basic expenses. They are urged to sell their remaining inventory as a way to gain financial relief while awaiting settlements and to prevent further financial harm.
Coleman advised Emily to consider selling their remaining inventory as her husband’s side hustle to generate income while they navigate their financial challenges. They hope this approach will help them avoid further financial setbacks. 1. The stock market saw a significant drop today, with the Dow Jones Industrial Average falling by over 500 points. Investors are worried about rising inflation and interest rates, leading to a sell-off across all major indices.
2. A new study published in a leading medical journal found that a third dose of the Pfizer-BioNTech COVID-19 vaccine significantly boosts protection against the Delta variant. The study suggests that a booster shot may be necessary for full immunity.
3. Tesla announced plans to build a new Gigafactory in Texas, which will focus on producing its highly anticipated Cybertruck. The facility is expected to create thousands of jobs and further solidify Tesla’s presence in the electric vehicle market.
4. The United Nations released a report stating that the world is not on track to meet its climate goals, with current emissions levels putting us on a path to catastrophic global warming. The report calls for urgent and drastic action to reduce greenhouse gas emissions.
Read more at Yahoo Finance.: A Dave Ramsey Caller Shares How Their Family Lost A $350K Business Overnight Because A Devastating Car Crash Ended Their Ability To Work