Tagged with "Dave Says"
Dave Says: Should Moms Stay at Home or Go Back to Work?
A reader wants to know what Dave thinks about moms going back to work to help get the family out of debt. To read more on these hot topics, go to What Not to Say to Working Moms and What Not to Say to Stay-at-Home Moms.
Dave Says: Are Mutual Funds a Good Investment?
How do mutual funds work? Are they a good investment of your money? Dave Ramsey give a clear answer to these basic questions. Dear Dave, I’d like to start investing in mutual funds, but I have no idea how they work. Could you explain about them please? Jennifer Dear Jennifer, First of all,...
Dave Says: Budgeting Needs and Wants
Budgeting can be hard when you're trying to decipher what you simply want and what you actually need. Dear Dave, Can you please define “necessities” in today’s world while trying to get out of debt and live on a budget? Matthew Dear Matthew, Whether you’re talking about the world...
Dave Says: Identity Theft in a Divorce?
Divorces are a messy business. But adding in identity theft over a credit card? That's even worse. Dear Dave, If a wife takes out a credit card in her husband’s name without his knowledge, and they get divorced, can the husband claim identity theft? Nancy Dear Nancy, Absolutely! Unless...
Dave Says: How Much Should I Have in Savings?
Having a nice emergency fund, along with no debt, creates a wonderful sense of financial peace! Dear Dave, I’m following your plan, and currently I have $14,000 in my emergency fund. What are essentials for three to six months of expenses? Brian Dear Brian, Basically, you should ask...
Dave Says: How to Start Over after Divorce
What is the best way to move forward after a divorce? What do you do with your settlement money? Dave Ramsey has the answers. Dear Dave, My divorce will be final in a month, and I’ll have $100,000 when everything is over. I will also have $8,000 in credit card debt, and I’m currently...
Dave Says: Reward Teenagers' Good Behavior
If your teen has good grades and behaves well, be sure to reward them accordingly, but beware of encouraging them to feel entitled to it. Dear Dave, My daughter has the opportunity to take a trip with her eighth-grade class. The cost is $650. Do you think she should have to contribute to the...
Dave Says: Don't Let a Repo Ruin Your Credit
If you're having trouble making your car payment, do whatever you can to avoid a repossession. You'll avoid even more debt if you can arrange to sell the car yourself. Dear Dave, I’m having trouble making my auto payment. I owe $20,000, and the car is worth $17,000. Should I allow the bank to...
Dave Says: Match Your Lifestyle to Your Income, Not Vice Versa
When an unexpected dip to your income comes along, don't dig in to your savings to maintain your lifestyle. Time to downsize! Dear Dave, I’ve been on medical leave from my job due to an injury. My doctor recently advised extending the leave another six months, but during this time I...
Dave Says: Date Nights Without Costing a Dime
Of course it's important to keep the romance in your marriage, but it doesn't have to cost you a pretty penny. Dear Dave, My husband and I have a baby and are trying to live on a budget and pay off about $14,000 in debt. He wants to spend $100 a month for a date night, but I think this is too...
Dave Says: Charging Siblings Rent?
When you've got younger siblings living with you, how do you arrange the rent situation? Dave says if they're working towards good goals in school and work, then charging them rent may do more damage to your relationship than the good it does your bank account. Dear Dave, My younger sister...
Dave Says: Paying a Forgiven Debt
What do you do if you have the money to pay back a debt that was forgiven? Dear Dave, I have some old debts that have been forgiven. Should I still pay these if and when I have the money? Matt Dear Matt, First, you need to double-check and make sure the debts have been officially forgiven....
Dave Says: Trusting in the Family
Wondering about a family trust? Dave Says one might not be necessary to manage money while you're still living. Dear Dave, When should a couple think about creating a family trust? Angie Dear Angie, A family trust can take different shapes. Couples with young kids sometimes consider creating...
Dave Says: A Model Opportunity?
If your children start earning money while still in their teens, don't forget to teach them the three basics of money: saving, spending and giving. Read more about teaching kids about money here.
Dave Says: What Are the Pros and Cons of Wholesale Shopping?
When you've got a wholesale club membership, shop like you budget. Don't buy what you don't need in bulk! Dear Dave, What is your opinion on wholesale club memberships? Anonymous Dear Anonymous, My wife and I are members of Costco and Sam’s Club. We don’t buy everything at these places,...
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