Finances
Dave Says: Why You Shouldn't Cash Out
Dear Dave: Is it a good idea for a married couple in their early thirties, who have a lot of student loan debt, to cash out one of their 401(k)s to pay it off? -Marcy Dear Marcy, No way! You never cash out a 401(k) or IRA to pay off debt, unless it’s to avoid a foreclosure or bankruptcy....
Dave Says: What's the Worst That Can Happen?
My wife and I would like to invest in real estate. What are your thoughts on flipping houses? Dear Dave, My wife and I want to do a live-in/flip real estate purchase. The idea is to buy a fixer-upper and rent out the basement to help with the mortgage payments. What do you think about the...
Dave Says: Letting Them in on the Secret
Dave - I’m in a very fortunate position when it comes to my finances. I’m 25, and I make $50,000 a year. I’m also completely debt-free. In your opinion, when is it appropriate to let someone you’re dating know about your financial situation? -Anonymous Dear Anonymous, Wow, you are in a...
Dave Says: Authorized Users Don't Help Your Credit
Will it help my brother's credit score and mine if I make him an authorized user on my card? Dear Dave, My brother asked me to put his name on my credit card as an authorized user. He said it will help improve his credit score. Is this true, and would it help my score in any way? Anna...
Dave Says: Season Tickets Are a Luxury
When is it financially okay for a family to purchase something like season tickets to the NFL? Dear Dave, In terms of a family’s financial plan, when is it okay to purchase something like NFL season tickets? Is this the kind of thing that should wait until you’re debt-free and can afford to...
Dave Says: Should I Stay or Go?
I recently graduated from college with student debt. I'd like to attend my sister's wedding, but it's in Mexico and will cost about $2,000. What do you think? Dear Dave, I graduated from college in May with $20,000 in student loans and have been working an hourly job on my dad’s farm until...
Dave Says: Can I Self-insure Long Term?
Is there a point where you can self-insure for long-term health needs without an insurance policy? Dear Dave, I just turned 57 and have been researching long-term care policies. Is there a point where you can self-insure for long-term care needs without a policy? Peter Dear Peter,...
Dave Says: Not Ready to Combine Finances
I just got engaged. Should we combine finances and start working on a budget before we're married? Dear Dave, I recently got engaged. Is it okay for us to go ahead and combine finances and start working on a budget before we get married? Adam Dear Adam, No, it is not okay to combine...
Dave Says: Now, You Are One
My wife and I were recently married. Is her student loan debt "hers" or "ours"? Dear Dave, I got married in May, and my wife brought student loan debt into the marriage. I had some savings before the wedding, and I could pay this off immediately without putting us in a bind. But is this...
Dave Says: Which Job?
I've been unemployed, but I was recently given a choice between two jobs. Which is the smartest choice? Dear Dave, I’ve been unemployed for three months, but recently I received two job offers. One is a state job that would pay $50,000 a year. The other is a one-year contract for a position...
Dave Says: You Haven't Found the Right Job
I'm having a tough time finding work. I'm educated and wonder if this is hurting my chances. Should I dumb down my resume? Dear Dave, I lost my job a couple of weeks ago, and I’m having a tough time finding part-time work to bridge the gap until another position comes along. I’ve got a...
Dave Says: Taking Care of Old Debts
What's the best way to handle bad marks on your credit? Dear Dave, I have some bad marks on my credit report. What’s the best way to handle them? Patricia Dear Patricia, There can be three types of...
Dave Says: Saving for the Next Car
I'm saving for a newer car, but where should I put the money in the meantime? Dear Dave, I finally paid off my old car, and now I’m taking your advice and saving up to pay cash for a newer one in the future. Where should I put the money...
Dave Says: Living Without Eating Out
Dave Ramsey talks about the biggest thing families can do to live on a budget and take control of their money. Dear Dave, When it comes to taking control of your money and living on a budget, what’s the biggest thing a family can live without? Will Dear Will, There are always the...
Dave Says: Pay Off Debt vs. Down Payment
Dave Ramsey talks about the virtues of paying off debt over moving to a bigger home. Dear Dave, We’re expecting our second child next spring, and even though we have an extra bedroom, our place is pretty small for a growing family. We also have $40,000 in student loan debt hanging over our...
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