Finances
Dave Says: 401(k), IRA or both?
Find out what Dave has to say to people taking care of their own retirement plans. Dear Dave, My employer recently stopped matching my 401(k) contributions. Together, my husband and I make about $100,000 a year. Should I continue to invest in this option, or should I put money into an IRA?...
Dave Says: How to Set Up Teenager's Driving Insurance
As scary as teenage drivers can be, Dave says that giving them a bit of responsibility at the right time will do them a world of good. Dear Dave, I’m divorced and have a teenager who will be driving soon. What would be the best way to set up insurance for the child? Mike Dear Mike, I...
Dave Says: Loaning Money to Relatives Not a Good Idea
When it comes to lending money to family members, Dave Ramsey reminds us that we aren't a national bank! Dear Dave, I made a huge mistake and allowed my sister to use my credit card. She said she’d pay back what she charged, but now she won’t pay the bill. The total was $5,500. Do you have...
Dave Says: Receiving Government Help Is Not Morally Wrong
When you fall on hard times, is it all right to receive financial help from the government? Dear Dave, I’m a single mom with three young children. I quit my nursing job a few years ago to be a stay-at-home mom, and one year later my husband filed for divorce. The state isn’t keeping him...
Dave Says: When Should We Buy a House?
When is it the right time to buy a house? Dave says a two- to three-year window may not even be enough. Dear Dave, My husband and I are on Baby Step 2 of your plan. We move every two or three years due to our jobs, so would it ever make sense in our situation to buy a house? Janelle Dear...
Dave Says: Be Tightfisted until the Crisis Is Over
When you're on the brink of a financial crisis, it's a good time to keep the cash piled high, Dave says. Dear Dave, Recently, my husband had to quit his job due to an old back injury. We have $25,000 in debt, but I’ll be receiving a $38,000 inheritance in a couple of weeks. Should we use the...
Top Tips for Zero-interest Credit Cards
What could be more appealing than a zero-interest credit card? You can make purchases and pay for them at your leisure, all without having to worry about high interest hanging over your head. But if you find yourself in a position to get a zero-interest credit card, be careful—using it unwisely could come back to haunt you.
Dave Says: Responsible After Death?
My single daughter was living with me when she died. Is it my responsibility to pay student loans and medical bills left behind? Dear Dave, My daughter died. She was 32 years old and single, and she had lived with me for the last few years because she was recently disabled. I did not support...
Dave Says: Make Decisions Together
I handle all the bills and money decisions because my husband says it stresses him. But this places a lot of burden on me. What should I do? Dear Dave, My husband doesn’t like dealing with money. For years, I’ve handled everything from paying the bills to making the decisions, and he just...
5 Tips for Outsmarting Debt
For most of us, there simply doesn't seem to be enough money to go around. But if you follow these five easy tips, you’ll be outsmarting debt before you know it! If you often find yourself living from paycheck to paycheck with little left over for any unexpected expenses, then you’re among...
Dave Says: Better Safe Than Sorry
Is it a good idea to convert stocks into a money market account to lower the risk? Dear Dave, My wife and I are 70, and we have $950,000 in annuities in the market, plus $68,000 in our emergency fund. The only debt we have is our mortgage. I’m considering converting our stocks to a money...
Dave Says: Is This an Emergency?
Should we use our emergency fund to help pay for the cost of our new baby's hospital delivery bills? Dear Dave, My wife just had our first child. As a result, we now have $2,500 in medical bills not covered by insurance. We’ve got $7,000 in our emergency fund, and I make about $25,000 a year....
Dave Says: The Tuition Payment Plan
When should we pull our mutual funds to help pay for our son's college tuition? Dear Dave, Our son is graduating from high school next spring. We’ve saved cash to pay for his first year of college, and we have enough in mutual funds to pay for another semester. When should we pull out the...
Dave Says: Stop, Emergency Ahead!
Dear Dave - If someone is following your plan, and they experience a health crisis, should they stop putting money into their debt snowball? -Dave Dear Dave, Absolutely! When you’re stuck in the middle of an emergency you always push the pause button on your Total Money Makeover and save as...
Dave Says: Paying the Parents
I have significant debt, including $20k that I owe my parents. They don't need the money, but want to see it paid off soon. Dear Dave, I have $1,000 in credit card debt, a $12,000 car loan and I owe my parents $20,000. The loan from my parents is causing stress because all I can afford to give...
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