Vishesh Raisinghani

Sat, Jun 14, 2025, 3:37 AM4 min read

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Despite earning an estimated combined income of $500,000 to $600,000 a year, Bill from San Diego admits he and his wife struggle to save any money — and it's easy to see why.

“Our monthly expenses are about $30,000, and then add taxes to that, so we pretty much even out every year,” Bill told Dave Ramsey on an episode of “The Ramsey Show” in a clip posted Jan. 13.

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An exploration of the San Diego, California, couple’s finances and spending habits reveals how even high-earning households can struggle and end up living paycheck to paycheck.

A 2023 Empower survey found that 71% of U.S. adults believe earning more money would solve most of their problems, a mindset Ramsey once shared. However, he learned that higher earnings can’t fix poor organization and lack of detail.

Bill’s case shows that increasing income isn’t enough. He and his wife spend $12,000 a month on mortgages, $8,000 to $10,000 on charity, and $750 on a leased vehicle.

Ramsey considered their spending excessive, comparing it to “throwing a bale of dollars over the fence and coming back to see what’s left.” He advised them to create a detailed budget that tracks every dollar in and out.

Budgeting and tracking can help you understand where your money is going, so you can make every dollar work for you.

With YNAB, you can track spending and saving all in one place. Link your accounts so you can see a big-picture look of your expenses and net worth growth. You can prioritize saving for short or long term goals — like a vacation or a down payment for a house — with the app’s goal tracking feature.

If you want to pay debts faster, you can create personalized paydown plans to calculate how much interest you’d save if you topped up your monthly payments with a little extra.

The easy-to-use platform allows you to simplify spending decisions and clarify your financial priorities. Plus, you don’t need to add your credit card information to start your free trial today.

Read more: Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead

Data from Bank of America shows that 20% of households earning over $150,000 lived paycheck to paycheck in 2024, often due to expensive homes and high mortgage payments.