Tagged with "Dave Says"
Dave Says: Finding Foreclosure Homes
What are your suggestions for finding a good repo home? Dear Dave, We’ll be completely out of debt in September and looking to buy a home in the next year or two. We’re thinking of buying a repo home. Do you have any suggestions on where to find these? Levi Dear Levi, One way is...
Dave Says: Lay the Foundation First
What should we do next to become more financially secure? Dear Dave, We’ve read about your plan, and we’re in pretty good shape financially, but we don’t know what to do next. We have $400,000 in a 401(k) for retirement, but we don’t have an emergency fund or any other savings. The only...
Dave Says: Just What She Needs
Should my daughter use a financial windfall to pay off student loans or invest in a Roth IRA? Dear Dave, My daughter is a student and has $13,000 in student loan debt. Recently, her grandparents dissolved an LLC, and they want to give her a gift of $12,500. Should she use this money to pay off...
Dave Says: Going Too Far?
Should I help my in-laws pay their overdue property taxes? Dear Dave, Your plan has been a real blessing to us. Last week, my mother-in-law told my husband they haven’t paid their property taxes yet. Three thousand dollars is due. I love my in-laws, but they’re big spenders. They’ve got...
Dave Says: How Much Am I Really Liable For?
I owe $1,200 extra on old credit card debt. Am I really liable for all that? Dear Dave, I have old credit card debt that goes back a few years. The account has been sold and re-sold to several collection companies. The limit on the card was $300, but with late charges and fees I now owe $1,500....
Dave Says: Saving Is Always Smart
I can't convince my wife to save because she believes the Lord will return in our lifetime, so it will all be gone anyway. What can I do? Dear Dave, My wife and I have gone from having almost nothing to making about $90,000 in the last few years. The problem is that I can’t get her interested...
Dave Says: Company Needs to Step Up!
My company reimburses for travel, but sometimes they send it late. Does this affect my credit score? Dear Dave, My company makes me use my personal credit card for overseas travel. They take care of my expenses, but sometimes they don’t send the money until after the payment is due. Does this...
Dave Says: Stick with Term
Should we get mortgage life insurance on our new house? Dear Dave, My husband and I both work, and we just bought a great house for $150,000. He makes $50,000 a year, and I make about $30,000. We’ve been getting lots of different mortgage life insurance offers in the mail. They say they will...
Dave Says: Where Do Toys Fit in the Baby Steps?
According to your savings plan, when is it okay to get a toy like a boat or motorcycle? Dear Dave, When is it okay to have a little fun and get a boat or a motorcycle when you’re doing the Baby Steps? Jennifer Dear Jennifer, I always recommend that folks complete the first three...
Dave Says: Guilt and Cynicism
Why do you think people get so defensive when it comes to talking about budgeting and how they handle their money? Dear Dave, I’ve noticed that lots of people get defensive when it comes to talking about money and living on a plan. Why is this? Tonya Dear Tonya, I think it’s...
Dave Says: Trust Broken after Co-signing
I missed some car payments after my dad co-signed on it, and our relationship has been affected. How do I make things right? Dear Dave, My dad cosigned on a car loan for me a few years ago before I began working your plan to get control of my money. I missed some payments back then, and it has...
Dave Says: Review the Research
What do you mean by, "people spend more with plastic than cash"? Dear Dave, I’ve heard you say that people spend more with plastic than with cash. Exactly what does that mean? Edmund Dear Edmund, There have been several studies done in recent years that show people spend less...
Dave Says: Where Does Debt Go When Filing Bankruptcy?
What happens to all the money owed when someone files bankruptcy? Dear Dave, What happens to the money that is owed when someone files bankruptcy? Do creditors just have to write it off, or do other people pay the price through taxes or higher interest rates? Grace Dear Grace, In...
Dave Says: Co-signing Leads to Stupid Tax
A collection agency is after my wife for a loan she co-signed years ago. Do we have a better option than bankruptcy? Dear Dave, My wife co-signed on a loan for an ex-boyfriend five years ago when they were together, before we even met. Now a collection agency is after her. Our attorney has...
Dave Says: Business and Friendship
My friend wants to rent part of my duplex, but I'm worried this could jeopardize the relationship. Dear Dave, I’m about to buy my first home. My plan is to buy a duplex and rent out the other side to help pay down the mortgage quickly. A friend of mine wants to be my renter, but I’m worried...
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