‘This is kind of a shellshock’: This Missouri man called into the Ramsey Show after selling his 2024 Corvette because he’s ‘missing’ the payments — is having debt good for your motivation?

He went on to describe how he went from being poor from paying off student debt to running a successful electrical and plumbing business in the last five years that now earns him nearly $240,000 a year.

After selling his Corvette and two other trucks, which he took losses on to become debt-free, the money he got in return is making him miss his vehicles.

“I’m not going to lie, I’m missing the payment,” he said, referring to the monthly payment on his Corvette. “I’m kind of going through that withdrawal. My nice trucks are gone and my savings account went to squelch.”

Despite his success and financial strength, Brandon’s emotional reaction highlights how people can struggle to feel financially secure, even when they're in good financial standing.

“At what point does building wealth really start to take over — that I’m going to enjoy this versus feeling rich?” he asked.

Adapting to new lifestyles

Brandon’s longing for that “new car smell” and his description of “withdrawal” symptoms highlights how addictive tangible signs of wealth can be.

According to a 2015 AutoTrader survey, 27% of millennial men and 18% of millennial women said they have a “love affair” with their car, meaning they have a strong emotional attachment to it. At the same time, 66% of senior homeowners across America said they were emotionally attached to their homes, according to a recent Opendoor survey.

These sentiments for material possessions could be one of the reasons why debt continues to rise across the country. As of the third quarter of 2024, American household debt increased to $17.94 trillion, with non-housing balances like auto loans, credit cards and student loans growing by $65 billion, according to the Federal Reserve.

For many households, lowering their debt burden would involve selling assets and making lifestyle adjustments. However, Brandon demonstrates how difficult it can be to adjust to a downgraded lifestyle.

“To go from nothing, to having something — and now I’m driving a $6,000 car because I sold my $90,000 Corvette,” he said on the show. “It’s just kind of a shocker.”

One commenter proposed that Brandon was, perhaps, using debt to motivate himself.

“When you are paying off debt, you have goals, ambitions, motivation, drive,” said the YouTube user. “When it's all gone and you are rich, all those things can disappear. You suddenly don't need to stay focused because you can keep a roof over your head, you can feed your family, the drive to success slows down as you start to succeed. Unless you channel your energy elsewhere. This goes to show that it's about the journey, not the destination.”

Those with a similar mindset may consider alternative, healthier ways to stay financially motivated.