A couple from the Midwest are in almost $800,000 of debt despite both of them working, having rental properties to generate extra income and living in a relatively cheap Midwestern city.
The pair, who live in Des Moines, have fallen into what financial advisor Dave Ramsey terms 'lifestyle creep' - a phenomenon where consumers ramp up expenses as fast or faster than income.
Despite the husband and wife earning a base salary of $175,000 and bringing in an additional $20,000 from rental properties, the couple still find they're living paycheck-to-paycheck having racked up an enormous $785,000 worth of in debt.
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