Finances
Dave Says: Pay Back the Loan--Especially if It Came from Family
Getting into debt with family members can be tricky. But if you respect them as much as you would any bank, then you'll always do what's right. Dear Dave, I borrowed $30,000 from my aunt to buy a condo eight years ago. We had a deal that she would get her money back, plus a piece of the...
Dave Says: Beware of Nosy Debt Collectors
Try to settle with debt collectors as soon as you can, and don't give them extra information that might help them sue you later down the road. Dear Dave, I’m working on my debt snowball, and I’m trying to settle with a pushy collector. I don’t have the $9,000 I owe, but I have $3,000...
Dave Says: When Should You Get Life Insurance?
According to Dave Ramsey, life insurance is always a good idea. But don't wait too long to get it, or else you might just be out of luck! Dear Dave, Is it ever too late to get life insurance? Tiffany Dear Tiffany, The only time it’s really too late to get life insurance is after you’re...
Dave Says: When to Change Your Will & Testament
Dear Dave, My father is terminally ill, and my two brothers and I recently had a talk with dad about his estate. He wants everything, except his house, left to us. He would like it to go to his long-time girlfriend, but it’s not written that way in the will. Should we have the will changed...
Dave Says: When to Fix and When to Sell Your Car
Depending on how much your car is worth, sometimes it's best to just sell it and use the cash for another beater that you can upgrade later. Dear Dave, I have $2,400 in transmission repair work that needs to be made on my old truck, and I don’t have the money to pay for it. I tried to get a...
Dave Says: Time to Pay Off that House!
When you've got a large chunk of change in your IRA and only a little bit to pay off on your home, pay it off and finally experience financial freedom! Dear Dave, I’m retired, and I have $400,000 in an IRA that’s earning 10 to 12 percent. The only debt I have is $20,000 on a home equity...
Dave Says: Sprint to the End of Your Debt
When your hard work and saving has finally led you to a nearly debt-free life, head toward that finish line as fast as possible! Dear Dave, My husband and I are debt-free except for our mortgage, and we make $65,000 a year. At this point, we have only $17,000 left to pay on the house. We...
Dave Says: Move Away or Set Family Boundaries?
When family is close a bit overbearing, what's the best way to handle the situation? Find a new home or set boundaries for grandma and grandpa? Dear Dave, I live outside Houston with my wife and our 9-month-old daughter. I’ve received a job offer from a company on the other side of the city...
Dave Says: Is the Authentic College Experience Worth a Loan?
We all want our kids to have the best college experience, but is acquiring more debt for their room and board on campus really worth it? Dear Dave, We live in New Jersey, and my wife and I can afford the $10,000 to send our son to a state college. However, we have a younger child who is...
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...
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