Tagged with "Finance"
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: 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: 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: Are Salvage Cars Worth It?
If you're looking for a good deal on a car, is buying a salvaged title worth the effort? Sometimes yes. Sometimes no! Dear Dave, I want to buy an inexpensive car, and I was wondering what you think about salvage titles. Eric Dear Eric, It’s not impossible to find a decent salvage car. But...
Dave Says: How Do I Help My Parents in Debt?
When your parents are having trouble getting out of debt, how can you help? Dave says showing them hope may be the answer. Dear Dave, My parents are close to retirement and very heavily leveraged. Do you have any advice on how I can help motivate them to succeed financially? Jack Dear Jack,...
Dave Says: Should You Rent to Own?
Beware: rent-to-own situations rarely work out, and when they do, they always work out better for the seller than the buyer. Save up, go slow and buy a home of your own when you're ready, Dave says. Dear Dave, What do you think about rent-to-own housing? I’m not sure we’re financially...
Dave Says: Cash the Bonds and Invest!
When it comes to Series EE bonds from the military, you should cash them in and really invest in your future! Dear Dave, I’m 23 years old, and I was in the military for five years. While serving I received what is now $2,700 in Series EE bonds. Should I keep them? Tammy Dear Tammy, If it...
Dave Says: Is It Better to Pay Off the Credit Card or the Car First?
What's the difference between paying off your car payment or your credit car debt? Dave says, essentially nothing! Dear Dave, My wife and I make $140,000 a year, and we’re working on our debt snowball. We’re almost out of debt, but we still have two small car payments and some credit card...
Dave Says: To Churn or Not to Churn Your Credit Card?
The concept of churning your credit card, flipping your balance from one card to another to get perks like sky miles, is more hassle than it's worth. Dear Dave, What do you think about the practice of credit card churning? Ethan Dear Ethan, I think it’s a pretty dumb idea. The concept is...
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