Dave Ramsey
Get dialed in
Dear Dave, My wife and I have two kids and one on the way. We’re debt-free except for our home, and we have our emergency fund in place. We’ve also been saving for retirement, with me putting 15% into a 401(k) and her putting 10 percent into her retirement account. On top of all this, we’re putting a little money toward college funds for the kids. We talked the other night, and after that we started thinking about pulling back from retirement saving and getting the house paid off. What do you think about that? Callen
By Dave Ramsey Posted 01-13-2021
Will my mother-in-law be okay?
Dear Dave, My mother-in-law is 60. She works hard and has no debt, but she also has no savings or retirement accounts. However, she owns a couple of paid-for rental properties that are worth about $350,000 each, and her home is worth $700,000. What can I do to help her plan for the future? Paul
By Dave Ramsey Posted 01-07-2021
Save up to get out of the rust bucket
Dear Dave, I let my fiancée use my car to get back and forth to work, and it has a lot of miles on it and a few mechanical issues. The money we’ve put into the car to fix the issues is about the same or more than the car is actually worth. We just started your plan a couple of months ago, and we’ve almost got a beginner emergency fund saved up. We also have very little consumer debt to pay off. I’m afraid, though, if we get into a second $1,000 to $2,000 car, we’ll just experience the same kinds of issues and it will turn into another money pit. I bring home about $5,000 a month, and she works part-time and goes to school. How do you think we should handle things? Thaddeus
By Dave Ramsey Posted 01-05-2021
This kid’s a planner!
Dear Dave, What would be your advice for someone who is renting an apartment but has never rented before? I’m 16, and I’m trying to create a plan for when I get out on my own in a couple of years. I’ve never had any debt, and don’t have a credit score. Is it going to be hard to find a place to live? Riley
By Dave Ramsey Posted 12-31-2020
Don’t fall for it!
Dear Dave, Could you explain why buying a new car at 0% interest isn’t a good idea? Raina
By Dave Ramsey Posted 12-29-2020
Don’t let money fights steal your joy
Dear Dave, My husband and I usually have a few disagreements around the holidays when it comes to Christmas spending. Do you have any advice for eliminating this kind of thing, and making the financial side of Christmas a little less stressful? Kellie
By Dave Ramsey Posted 12-24-2020
Are utilities included?
Dear Dave, I just received a formal job offer in law enforcement. I’m debt-free, single, and I’d like to move out of a roommate situation and into my own apartment. I’ll be starting out at $34,000 a year, then moving up to $38,000 after my probationary period. You have a rule that says to make sure rent or house payments are 25% or less of your take home pay. If I can find a place where utilities are included, do they figure into that amount? Josh
By Dave Ramsey Posted 12-22-2020
Evaluating insurance needs
Dear Dave, Last year I got a divorce. I’m 32, a teacher and a single mom. I’m on Baby Step 2 right now, and I was wondering about life insurance. My son is only two, and if something happened to me, he would go to his father. His dad is in good shape financially and responsible with money, so how much life insurance should I have? Christian
By Dave Ramsey Posted 12-17-2020
Hope can’t be taken from you
Dear Dave, I lost my job a few days ago. We had an idea cuts were coming, but I thought it wouldn’t happen until well into the new year. My wife works, so that’s a good thing, and we’re both in our thirties. Do you have any advice for how we should handle things during the Christmas season and until I’m working again? Brandon
By Dave Ramsey Posted 12-15-2020
Your 15%
Dear Dave, I read where you recommend investing 15% of your income into Roth IRAs and other pre-tax retirement plans. Do you also advise counting a company match as part of that percentage? Bryce
By Dave Ramsey Posted 12-10-2020
Keep teaching
Dear Dave, My wife and I are trying very hard to save money and pay off debt, but we’re not making progress as quickly as I had hoped. What do you think of the idea of putting a hold on our son’s allowance for the jobs he does around the house until we get into a better financial situation? Kellen
By Dave Ramsey Posted 12-08-2020
Patience, determination…and time
Dear Dave, One of my resolutions this year was to start living on a budget, and gain control of my money. I never realized how easy it would be to get discouraged early on. Can you give me some encouragement to help make my financial resolutions stick in 2021? Collin
By Dave Ramsey Posted 12-03-2020
Don’t put your home on the line!
Dear Dave, We’d like to start preparing for the future, but our debt is preventing us from investing for retirement. Would it be okay to use a home equity line of credit to start investing? We were thinking the eventual returns might justify doing this. Nick
By Dave Ramsey Posted 12-01-2020
Saving for college
Dear Dave, What percentage of our income should we save for our kids’ education? We know you recommend setting aside 15 percent for retirement, but do you have a similar rule that applies to paying for college? Andrew
By Dave Ramsey Posted 12-01-2020
Many benefits to budgeting
Dear Dave, Some friends recently introduced me to your ideas for handling money. I’ve got to admit a lot of it makes sense, but I’m not sure why you’re so adamant about budgeting. Can’t you get a good idea of your finances by checking your accounts and balances online regularly? Parker
By Dave Ramsey Posted 11-24-2020
Self-insure?
Dear Dave, I’ve been researching long-term care policies. Can you reach a point financially where you can self-insure long-term care needs, and not buy a long-term care insurance policy? Paul
By Dave Ramsey Posted 11-19-2020
Combine finances?
Dear Dave, Is it okay to combine finances with someone and start working on a budget before you marry them? I just got engaged, and we’ve been talking about the idea of getting a head start on our finances together. Autumn
By Dave Ramsey Posted 11-17-2020
Teachable moments are valuable at any age
Dear Dave, A good friend of mine passed away recently. In his will, he left me a couple of items and some money, and I’d like to share the money with my son. He is 25, and a good kid, but he is still impulsive with his finances. Do you have any advice for handling this in a way that will do him the most good? Frank
By Dave Ramsey Posted 11-12-2020
Pay taxes now or later?
Dear Dave, My husband and I owe $3,500 in federal taxes, along with $3,000 in state taxes. We’re both still working during the pandemic scare. Would it better to wait until the new July 15 due date to pay taxes, and pay off other debt in the meantime, or go ahead and pay state and federal taxes now, and take care of our other debts with what we have leftover monthly? Erica
By Dave Ramsey Posted 11-10-2020
Consider rent-to-own?
Dear Dave, I’m single, have no kids, and I’ve paid off all my debt. I’m ready to move to Baby Step 3, and increase my emergency fund to cover three to six months of expenses. Now that I’m gaining control of my finances, the idea of leaving apartment life and owning a home is more appealing. Should I consider a rent-to-own deal on a house when the time comes? Alex
By Dave Ramsey Posted 11-05-2020
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