New York man wants to borrow from 401(k) to pay $33K debt. Dave Ramsey is against it, but here's when it makes sense

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• Dave should stop saving and investing until he's debt-free

  80% confidence

• Dave should get on a budget and clean up his debt mess instead of trying to find a hack

  80% confidence

• The average credit card APR is 22.83%

  80% confidence

• The goal is to get people out of debt so they can build wealth, change their family tree, and be outrageously generous

  80% confidence

• The average 401(k) loan amount is $11,067

  80% confidence

• OfficialHomeInsurance.com can save users an average of $482

  80% confidence

• The average U.S. consumer pays $1,237 in monthly debt across their various obligations

  80% confidence

• If you leave your employer, you would have to repay your 401(k) loan in full in a short time frame

  80% confidence

• Median weekly earnings for American workers were $1,196 during the second quarter of 2025

  80% confidence

• Nearly 50% of Americans are making one big Social Security mistake

  80% confidence

• Dave should spend the next 12 months paying only for essentials and put the rest of his paycheck toward debt

  80% confidence

• At the end of 2024, 13% of 401(k) plan participants had an outstanding loan against their balance

  80% confidence

• One asset will surge 400% in a year

  80% confidence