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Archive of Dave Says - Weekly Financial Blog

Archive of Dave Says - Weekly Financial Blog
  • Two Extremes
    Keeping track of your own money and finances is very important. Even a parent can be proven not trustworthy.... more
  • Here's a Better Idea
    Give yourself a higher return. Instead of investing in something with minimal return, choose a product that gives you the best return.... more
  • Not As Bad, But Still Not Smart
    Why pay a fee for something you can get for free?... more
  • Keep It In Your Own Pocket
    A tax refund is exactly that. It's not a gift from good ole Uncle Sam. You're getting back what you already paid out.... more
  • Layoff Insurance?
    Not all insurance is worth it. Have a stocked emergency fund and you can insure yourself without paying someone else to do it.... more
  • Pre-planning Explained
    Pre-planning is different than pre-paying. Instead of paying for something that's far into the future, invest it so you can easily pay it when the time comes. That way you're not losing any money, rather gaining money.... more
  • Quit Job For School?
    Some things may sound like a good idea, but are gone about in a dumb way. Really thinking through major financial situations and ideas before acting on them is the best way to handle it.... more
  • Well Meaning, but Misguided
    If you need a co-signer for big purchases like a house, chances are you are not ready to own your own house. Being smart with your money, credit, and savings is important.... more
  • Boss Says Get a Credit Card
    There should be no need to front any of the money for expenses when you work for a company. Businesses should be covering expenses without putting you in an uncomfortable position.... more
  • Elimination Period
    The elimination period of a disability policy is the time between when you are declared disabled by a doctor to the time you start receiving payments.... more
  • Rent-To-Own Process & Whether it Makes Any Sense
    Rent-to-own scenarios usually end up costing you more than buying it outright.... more
  • When Can I Have Some Fun?
    Dave recommends the first 3 baby steps before having a little fun.... more
  • No Cash Businesses?
    Debit and credit cards are becoming more and more common for the only form of payment. However, dealing with no cash businesses can be annoying to deal with.... more
  • Renting to Family?
    Don't play the because we're family... card. When renting to family be sure all parties understand what is expected.... more
  • No Commodities
    The commodities market is extremely volatile and the prices on commodities isn't based on actual production. Because of this, it is not the smartest thing to keep as part of your investment.... more
  • Mortgage Ratios
    There are so many questions and options when it comes to mortgages. Since it is a big financial commitment, a lot of planning and research should go into it.... more
  • Time to Raise Prices?
    Business decisions regarding price increases need to take into account the current market for your services or product, how busy you are and if you can withstand a possible reduction in customer base. Quality services and products can demand higher prices.... more
  • Generosity or Overspending?
    As nice as it is to help others, it's wise to take care of your own family first and then proceed with your charitable ways.... more
  • Separating Bold From Obnoxious
    Follow up! After an interview be sure to follow up with the person in charge of making the hiring decisions.... more
  • How much should we give our grandkids for Christmas?
    Is a gift card the right choice? Consider the age of the recipient and always keep your financial situation in mind when giving a gift.... more
  • Apps and Stocks?
    Investing in any type of stock can be confusing and a risk. Taking time to research and learn all that you can before making any purchases is the smartest way to go about it.... more
  • The Past Can Haunt You
    The past can come back to haunt you in all aspects of your life. When it pops back up financially, it can be a tough thing to handle.... more
  • No Electronic Access!
    Avoid giving debt collectors access to your accounts and debit cards. Even if you think it's legit.... more
  • Stay Intense!
    The more you put toward your debt, the faster it goes away.... more
  • Get It Now!
    There are so many options when it comes to life insurance. The younger you are when getting it, the better.... more
  • It's a Dream, Not a Plan
    Turning a dream into a solid plan is possible but breaking it down into goals will make is easier to achieve.... more
  • Used Car Warranties?
    Used car warranties can be expensive and have little benefit for you. The best way to cover yourself is to buy smart and self-insure.... more
  • Married or Single, Budgeting Is The Key
    Whether you're married or single, staying on track with your finances can be difficult. Living on a budget and never spending more than you make are some good tips.... more
  • Used Car Mileage?
    When buying a used car, be sure to do your research and make the best possible choice of what will last you the longest.... more
  • You're Under No Obligation
    If you your adult children the gift of education it should be met with just as much gratitude and appreciation.... more
  • Touch People's Hearts
    If you don't trust the doctors' office practices, then why should you trust their medical opinions?... more
  • Touching their Hearts
    Get kids to give. Involve your kids in the acts of giving and doing for others.... more
  • Budgeting for Taxes
    Answers to new business startup wanting to know how to budget for taxes paid on a quarterly basis.... more
  • Rental Properties? Baby Step 6
    During the debt snowball, which baby step is the right step to start working on a rental property that money is owed on?... more
  • Wait on IVF?
    When making a large financial commitment, explore all options before finalizing your commitment.... more
  • Vacation Home For Rent?
    A vacation home could be a good investment, as long as you are debt free and are ok with the upkeep.... more
  • Leasing Equals Financing
    Leasing is just another form of financing.... more
  • He's Becoming a Man
    Handling and managing money can be a tricky task. Whether you are younger or older learning the best techniques to keep your budget working properly is important.... more
  • Debt Snowball Reasoning
    Being in debt is a more of a behavioral issue than a financial issue. Change your behavior and you will see the financial changes fall into place.... more
  • Where Do I Put The Money?
    Gold is a volatile investment. Mutual funds are a better option for long term savings.... more
  • Help parents, or pay student loans?
    Knowing how to avoid a financial crisis situation is half the battle. Having someone fix it for you is only a temporary crutch.... more
  • What's Reasonable Fun?
    Having a great income-to-asset ratio and living debt free gives you the opportunity to relax and enjoy a few things.... more
  • We Can Afford It On a 30-year Mortgage
    A 15 year fixed rate mortgage is a better way to go than a 30 year. It will end your debt in less time and free up your income that much faster.... more
  • No Retirement Cash At 58
    You need to get out of debt before you can build for retirement.... more
  • Pre-Paid Debit Cards For Kids?
    Dave doesn't recommend using pre-paid debit cards to kids.... more
  • Become Debt-free Before Marriage?
    Dave says that you can get married before becoming debt free. You and your new spouse can work together as one to get rid of any debt.... more
  • You Still Need One
    If you have a very stable employment situation you can get away with an emergency fund that is on the lower end of the spectrum.... more
  • You Need a Better Plan
    When you know a low or no income period is coming you need to plan ahead. Your emergency fund is not there to cover this predicted period of time.... more
  • Time to Leave
    Dave talks about how to handle a family member that potentially is taking advantage of members of their own family.... more
  • Turn This Into A Blessing!
    Planning for the future is a part of life that should never get pushed aside. In the long run, it pays off and keeps you financially in the clear.... more
  • Problem Plan
    Don't take out a loan pay off another loan, but instead work hard to pay off the current loan.... more
  • Home Improvement Debt?
    Debt is something that can be avoided if you are extremely smart and careful with your money. Knowing when to take out loans and when to say no to things is important.... more
  • A Bad Move
    It is best to get term insurance than whole life insurance. Don't ever borrow money on your whole life insurance if you have one.... more
  • First, Get a Real Job
    Loans and insurance policies can put you in debt very quickly. Keeping a real job and staying on top of your financial situation can keep you one step ahead.... more
  • A Bad Method At This Stage
    Having other investors in a project is like taking on partners. Be wise in your decision to put yourself in this position.... more
  • Hands off the Emergency Fund!
    ... more
  • Discussing and Negotiating
    Whether you are trying to negotiate a salary or learning when a money situation is considered an emergency, it takes research and budgets.... more
  • Threaten to Garnish
    Stay informed, debt collectors can't simply garnish your wage without going to the appropriate legal process. It is unlawful for them to threaten wage garnishment.... more
  • Rental House Being Foreclosed
    Whether it's your debt or a landlord's debt effecting you, there is always a way out. Seeking advice and finical help should be your first step.... more
  • Dip In, Pay It Off!
    If you have enough money in your emergency fund to cover an actual emergency then dip in and use it.... more
  • Let Him Be Mad
    Debt is something almost everyone encounters at some point in there life. Learning when to say no to things or people and knowing how to budget your money and savings can help you stay debt free.... more
  • The Family Nightmare
    Big decisions need to be made with your spouse being in the loop. Lack of consideration of your partner leads to additional problems in a marriage.... more
  • Keep the Bike!
    Family heirlooms are best kept for personal reasons. As long s there's another way to get by financially, try to avoid selling it.... more
  • Pass on this Deal
    Owning a home is probably going to be one of your biggest expenses throughout your life. With that, it comes with a lot of big financial and personal decisions. Thinking long and hard about these decisions is the best way to go.... more
  • To File, or Not to File?
    Making an insurance claim on your home, make sure the claim is worth it because the consequences can be a rate increase or cancellation.... more
  • Too Much Risk
    It's not a good idea to risk the majority of your net worth in a single stock. Diversify your investments to reduce your risk.... more
  • What to do with the Leftover?
    When budgeting your money for the month, it's ok to allow any extra money to roll over to the next month.... more
  • What's Your Priority?
    Getting your priorities straight is the key in being successful and being able to figure out what your next move is. Whether it's when you should buy instead of leasing for your business or when to move out on your own, priorities are key.... more
  • Buy or Lease a Building?
    Getting your priorities straight is the key in being successful and being able to figure out what your next move is. Whether it's when you should buy instead of leasing for your business or when to move out on your own, priorities are key.... more
  • Skipping to the Altar
    If education is already paid for make a substitution. Plan ahead and start saving for a wedding, home or other large expense.... more
  • Midlife Adjustments?
    Having an emergency fund should be your priority. Before you start saving for a house have your emergency fund set and ready to go if needed.... more
  • You Can't Fix It For Her
    Always be careful whom you take loans from and whom you give loans to.... more
  • Mortgage for the Deduction?
    Being smart about your money is the main way to stay debt free.... more
  • Bad Advice from a Bad Friend
    If you have racked up credit card bills, it is your obligation to pay them. Don't try to manipulate your way out of the mess you got yourself into.... more
  • Giving Wisely
    When our hearts are open to the concept of helping others, do so wisely. Make sure your own affairs are in order and then feel free to help those less fortunate.... more
  • Crowdfunding Real Estate?
    Whether it's real estate or life insurance, you're going to have questions. Both are important things to gain knowledge on from as many sources as possible.... more
  • How Late is Too Late?
    Whether it's real estate or life insurance, you're going to have questions. Both are important things to gain knowledge on from as many sources as possible.... more
  • Ethics and Integrity
    There's nothing wrong with learning all you can from other companies to open your own. Just be sure not to cross the line with what you bring over to your table.... more
  • Don't Compromise Your Emergency Fund
    Always try to avoid dipping into your emergency fund whenever possible. Your emergency fund tends to keep emergencies away. When it's not there, an emergency is bound to hit.... more
  • Do the Manly Thing
    When in debt, your overtime pay doesn't give you free rein to spend your extra wages on fun. Prioritize your needs first and then if there's a little extra you can justify a small treat.... more
  • Teens and Checkbooks
    When teaching kids about finances, start small and have them prove they are able to take over the control of their money.... more
  • Why the Smallest Debt First?
    Dave discusses why to tackle the smallest debt first when following the debt baby steps.... more
  • Roth Over Pension
    Whether it's deciding to get pensions or IRAs, or how to break bad habits and pay off your debt, we can all benefit from professional advice. Seeking professional advice will put you on the right path and answer all of your questions.... more
  • You Skipped One
    A fully funded emergency fund is extremely important to have because unexpected emergencies never seems to happen at the right time.... more
  • It Doesn't Have to be a Deal Breaker
    When furthering your education, consider the amount of already accumulated debt you have and then decide if you want to add to that or find a plan that can start alleviating some of it.... more
  • Collections and Creditors Question
    Once a debt has been turned over to collections your credit damage is already done. Come to an agreement with the collection agency and start paying off what you owe as quickly as possible.... more
  • Get Rid of the Cards
    It's always wiser to choose debit over credit when given the choice. Debit transactions are more likely to keep you out of the debt credit cards tend to suck you into. Are the rewards points really worth the risk?... more
  • No Magic Number
    If you have reached a point in your business that you are considering changing to an LLC, make sure the processing and filing fees are worth the switch at that time.... more
  • Beware of Overspending at Warehouse Clubs
    Warehouse clubs can be a great place for bargains but be careful not to get too much of a good thing.... more
  • Not Ready for a House
    A choice of whether to get a secured credit card or not towards building credit?... more
  • What Will Won't Work?
    In life there are a lot of choices you have to make and you have to be smart about them. Whether it is how your will is going to be done or building credit and buying a house, it can be confusing. Seeking professional and legal help for...... more
  • His Wife's Final Gift
    When given some devastating news, don't give up hope, continue to have faith and focus on making the best with what you have.... more
  • IRA to Gold? Bad Idea
    You want to fund your IRA with something that has a long track record based on growth due to the performance of the companies involved, not something like gold that is very volatile once the economy picks up.... more
  • Wife Wins
    When the rules of paying off debt from smallest to largest don't apply you should knock out the one with the highest interest rate first.... more
  • The Teacher was Wrong
    Dave advises student about credit rating and savings required to buy a home.... more
  • Dying Car or Kill the Student Loan?
    Dave responds to question of paying off student loan debt with savings or purchasing a newer car to replace junky old one.... more
  • Dissolve the LLC?
    If the operating costs of an LLC don't outweigh the income it receives it would be beneficial to leave it open.... more
  • Cash is a Better Security Blanket
    Instead of keeping credit cards on hand as a security blanket try to put away enough cash for your emergency fund and access it through a debit card.... more
  • Dave's Take on Layaway
    Law away programs should not be something you make a habit of using. If you don't have the cash for it then you can't afford it. Save up for something and get it when you have the funds available.... more
  • Trashing Your Truck
    It's never a good idea to drain your family's finances to purchase a work vehicle that will inevitably get destroyed by its daily use.... more
  • You're Using It Wrong
    Debit works the same as credit without having to input your PIN.... more
  • Jobs From Home?
    No matter what problems you are facing in your life, there are solutions for all of them. Reaching out to more than one person to help you figure out what should be done is a smart choice.... more
  • Run From That Guy
    Don't switch your 401(k) to a hybrid annuity. There is less cost involved in a 401(k) compared to annuity. Both do the same job protecting your money from taxes as your money grows.... more
  • Helping Dad
    If someone has a history of financial irresponsibility then by helping them get out of a debt is only enabling their poor choices and keeping the pattern going.... more
  • Cash Flow School?
    In lieu of taking on more debt in order to pay for school try to start paying for future tuition in cash and work on eliminating your current debt as quickly as possible. This will ease your debt payments down the road and free you up of any...... more
  • Why Save Before Paying Off the Mortgage?
    Your home is more of an asset than a liability. An emergency fund and a retirement savings are important to have prior to paying off your mortgage. Once those things are accumulated then work towards paying off your mortgage.... more
  • Get Yourself Out of It
    When one, or both, partners in a marriage gets themselves into financial trouble you have to work together, as a unit, to figure out a solution. You have to have communication, unity and shared goals in order to work together to clear up the mess and to avoid...... more
  • Newlyweds Buy House the First Year?
    Newlyweds should spend the first year of marriage getting to know each other better and adjust to being a married couple. Take this time to get better acquainted both emotionally and financially and worry about the house hunting later on.... more
  • Kicked Out, Starting Out
    If you're in a tough situation and your just starting out you need to financially cover the basics, such as food, shelter and transportation, before looking to the future. Once the basics are covered you can venture on to bigger and better things.... more
  • Don't Touch the 401(k)
    Withdrawing from your 401(k) to cover credit card debt is not a good idea. You will be hit with penalties and lose out on potential interest that would have been earned. Instead, scrimp and save, maybe even take on a part-time job if needed, and knock out your...... more
  • Did Dad Do Her Wrong?
    Borrowing money from, or loaning money to, a family member or friend can easily lead to hard feelings, anger, and disappointment. Be leery when you intend to mix money and family/friends.... more
  • Paying Cash Doesn't Make it Smart
    When it comes to a Tiny House there is no track record that tells us what kind of resale these types of homes have. This aspect alone can make it a bad financial move.... more
  • Mother is 95 Years Old; Where Should Retirement Go?
    When an elderly person already has their money accounted for it may be better to just leave things as is and not upset them with financial change. Even if they could be getting more with a different type of investment. If they have obtained financial peace don't rock...... more
  • Accounting 101
    Regardless of the size of your company you should always keep your business and personal finances separate so you can accurately see what is going on with your business' finances. In order to figure out your profit you will use a simple equation...Revenue - expenses = your profit.... more
  • Young, Jobless, and Scared
    In the wake of an unexpected job loss, when you don't have any savings to draw from, you do anything and everything to earn some extra money and stay afloat. Then prioritize your debt and go from there. Sacrifices are needed to regain a solid financial footing.... more
  • Travel Medical Insurance?
    When traveling, check with your current medical insurance provider to see if you will be covered under your current policy during your travels. Don't fall into the trap of buying additional travel medical insurance if you don't need it.... more
  • He Set You Up
    When looking to buy a new toy be sure you can pay for it in cash. Items that are not necessities should never be financed and you should never owe any more money on it once you drive it out of the showroom.... more
  • You Can't Just Cruise
    When paying off your debt it's so important to stand up to temptations and avoid getting yourself into further unnecessary debt.... more
  • Be Professional
    When leaving a job position, it's always best to leave on good terms. There is never a need to burn a bridge if it isn't necessary. Always be professional, honest and upfront.... more
  • Retained Earnings Are a Must
    In the business world, retained earnings is equal to an emergency fund for your personal finances. It doesn't have to be a big percentage, but you should be setting money aside every month for the company.... more
  • How Much is Too Much For a Wedding?
    When planning a wedding, it's always wise to compare your debt to income ratio. The more debt you have in relation to your income, the smaller your wedding expenses should be. After all, it's not the size of the wedding that will make a good marriage. It's the...... more
  • Adjustable Rate Mortgage
    Adjustable rate mortgages transfer risk to the consumer, and puts the homebuyer in a position where they're at the mercy of the markets when it comes to the amount of their mortgage payments. This factor is definitely something to be aware of when planning on obtaining a mortgage.... more
  • Rental Runaround
    Don't take a chance on wrecking your total money makeover by running out to get a credit card for something silly. Before processing a transaction, double check that they accept the tender you are planning to pay with. If not, find someone who does.... more
  • Buy the car?
    With all the right savings plans in place, retirement, emergency fund and a nest egg, you should allow yourself to splurge on something reasonable here and there. As long as you continue on the right track, enjoy your splurge. You deserve it.... more
  • Learning and Living
    When you are left to make all the financial decisions you should be knowledgeable when doing so. Find the right person to teach you as much as possible so you are able to make the best financial decisions for yourself.... more
  • What is a Money Market Account?
    Money markets are short-term financial instruments that pay the same or slightly more than a traditional savings account. Some are attached to mutual fund companies that allow you to buy right into the money markets.... more
  • Mother is Elderly; Does She Need Long-term Care Insurance?
    Upon reaching 60 years of age you should absolutely require long-term care insurance. Whether you have millions of dollars in assets or just a small nest egg you need to be covered in the case of prolonged medical care or nursing home care.... more
  • Don't Cut Your Safety Net
    When just starting your emergency fund, it is always best to start with at least $1,000. Budget yourself and save up as much as possible to accomplish the initial startup and you will feel a new sense of security.... more
  • Steps in the Process
    If you are following the Baby Step program and are looking to sell your home in the process, be sure to have a full funded emergency fund in place when doing so. Don't rely on the equity in your home to supply your emergency fund.... more
  • Use An Insurance Broker
    It is best to use an insurance broker to help find long term care coverage for an elderly person who is sickly.... more
  • Fighting Fear
    Dealing with any financial problems can be scary. Whether its debt that you are in or insurance issues, there is always a solution. Making budgets or contacting an insurance broker are ways you can start fixing your problems.... more
  • Keep It Simple
    Whether its finical problems or accounting problems, there is always a solution. Asking for help will steer you in the right direction to get back on track.... more
  • Husband's Business is Dying
    Family and financial responsibilities come first, if your business is not breaking even then it is time to leave it.... more
  • Consider the House?
    When looking to buy a home be aware of all the downsides. Those will still be relevant when you go to sell in the future, pending those things are still an issue.... more
  • Health Insurance Options
    Avoiding health insurance because of its high premiums is really not an option these days. Look into cheaper options within the healthcare exchange and try to find something more affordable.... more
  • Is this plan too intense?
    When paying down your debt, keep in mind the value of your real estate. It may not be worth selling it and losing the potential appreciation value as the market continues to rise.... more
  • Taking the Trip
    If your finances seem to be in order and the opportunity arises to have a discounted vacation, take it! We all deserve a little fun now and then.... more
  • Interest-only Triplex?
    Owning real estate and renting out space does not always work out as planned. Sometimes this can be more of a headache than it's worth.... more
  • Sold Dave three timeshares?
    Timeshares are never a good idea!! For the money you spend on a timeshare you could take several really nice vacations, and good luck ever getting rid of it if you do fall into the trap. They are so hard to sell because you don't really own anything.... more
  • Split it With You
    When family and money mix there is usually drama waiting in the wings ready to rear its ugly head at some point. I family members are involved make them aware of your plan and proceed accordingly. If the money is available to pay off a debt, do it...... more
  • Owing on Commercial
    Its' always best to have no debt at all hanging over your head, even when it comes to commercial properties. If there is debt looming above try to follow the debt snowball and eliminate as much as possible as quickly as possible.... more
  • What's the Deal with Deferred Comp?
    Deferred comp plans simply mean you are electing to defer and receive a portion of your compensation at a later time or date. You have a portion of your compensation withheld and directed into an investment of some kind instead, and you aren't taxed on it immediately.... more
  • Private School is Busting Savings
    If you can't afford to send your kids to private school than they shouldn't be going. There is good and bad in all schools and you shouldn't put yourself into hock in order to send them to private school.... more
  • Baby Steps, Motivation, and Retirement
    Take some time to accumulate an emergency fund so as to not dip into other funds when necessary. Work towards achieving higher goals that can possibly make the saving process a little easier.... more
  • It's for Everyone
    The same financial concept applies for large families as it does for smaller ones. The end goal is the same but the means of reaching it may be a little different. With more of a financial drain it may take you longer to reach those goals but consistent...... more
  • Finding the Right Motivation
    After being financially successful sometimes there are other needs that need to be met. There's tons of joy and fulfillment to be found when you're working in a way to serve the people and things that matter most in your life!... more
  • No More Guilt Trips!
    If a person wants to quit their paying jobs to join the ministry that is their choice. However, it's not healthy for them to then financially burden their children or others to pay for their decision. Bitterness and anger are sure to follow.... more
  • Be There For Each Other, And Don't Give Up!
    It is so easy to find yourself in debt and in trouble when it comes to paying it off. However, sometimes paying off your debt cannot always be your first priority.... more
  • Business Issues and Family
    Financial and legal issues can seem tricky to figure out. The best way to handle situations you are unsure about is to talk to an attorney.... more
  • How to Protect a Special Needs Child with the Baby Step...
    Parents find peace of mind by planning for the care of a special needs child through life insurance policies that will go into a managed trust for future care.... more
  • It's not Discrimination
    When applying for a job, always be honest about your financial history. It will be easier to explain what happened that got you into a certain position than it would to explain why you lied about it to begin with. As always, honesty really does seem to be...... more
  • Snowball Switch?
    When working the Debt Snowball, always try to knock out the smallest debt first and then continue to plow through the others to eliminate them one by one. The more you get behind you the more money you can put towards the remaining ones until they are all...... more
  • Commonsense Calculation
    Planning ahead of time for retirement can save you from much grief later on. Decide on what amount or percentage you want to live on down the road and put together a savings/investment plan that will work for you.... more
  • A Free Ride?
    Teach your children the benefits of hard work and make them earn the things that they want. If they don't learn now, they will be at a huge disadvantage when you are not around to provide everything.... more
  • Invest in Chandler
    While in school, focus all the money you make towards your student loans in order to get out of college with as little debt as possible. Once you're established in a career can you being to save towards retirement.... more
  • Pause the Debt Snowball
    Divorce can wreak havoc on your finances. It's a good idea to pause your debt snowball until you can get back on your feet. Once your back up, continue to attack your debt.... more
  • It's Okay to Take Control
    A recovering addict should not have control or access a joint account until adequate time is taken to establish responsibility and accountability. An envelope system and keeping track of where pocket money is spent are steps in the right direction.... more
  • Becoming a Holder
    An option to become a partner in a firm could be a big mistake. With little to no control over the management of the business and inability to liquidate funds, you could find yourself high and dry should things go south.... more
  • You're Self-Insured
    If you can consider yourself self-insured, you may not need to hang onto an expensive life insurance policy. Use that money to pay off any other debts while maintaining a good heal insurance and long-term care policy.... more
  • An Ounce of Prevention
    When our children start to enter the workforce we, as parents, need to teach them financial responsibility. If we can teach them to be givers, savers and wise, careful spenders as children, they won't be financially irresponsible adults later!... more
  • Display a Kind Spirit
    Family should always stick together in times of need. But be tactful when approaching people with financial obligations. Things can go south real quick and cause more harm than good.... more
  • Settlements for Medical Bills
    If you honestly cannot afford your medical bills, a settlement with the hospital may be a viable option. It never hurts to ask and make a offer for a reduced payment.... more
  • Just Be Honest
    Do not be afraid to take an offer for a job that pays you more money. Being honest and genuine will prevail over your respectful employer.... more
  • The Benefit of Benefits
    Offering a great benefits package helps attract the best employees.... more
  • What Causes Overspending?
    Overspending is a choice that is, more often than not, a form of immaturity.... more
  • Talk to Mom and Dad
    Taking a life insurance policy out on your aging parents may not be in anyone's best interest. Instead of expensive insurance premiums, consider the circumstances and increase your savings as much as possible should it fall on you to pay for funeral services.... more
  • Her Birthday Money is Symbolic
    ... more
  • Should Retirees Move Investments to a CD?
    When you have reached retirement age, be sure to weigh all options when considering where to keep your investments.... more
  • Raising the Rent
    Think you could be losing money by keeping rent low, however, concerned you could lose your tenants if you raise it? Consider Dave's advice in order for you and your tenants to come to an agreement.... more
  • Talk About Boundaries
    Address issues with family members as they arise in a polite, non-combative way. Things should turn around after a short cooling off period.... more
  • Planning for College
    What are the differences between an Education Savings Account and a 529 plan?... more
  • Speeding Ticket Emergency
    Consider the importance of something that causes you to consider dipping into your emergency fund.... more
  • Selling Sentimental Stuff
    Never let stuff stand between you and your family's sense of security and financial well-being.... more
  • The Church's Emergency Fund
    A good way for a church to save money for an emergency fund would be to view it as a small business. The best way to start would be by cutting back on unnecessary items and making sure adequate funds are available to keep the organization up and...... more
  • Condos Are Fine, But Do Your Research
    Condominiums can be a good investment as long as you do your homework. Ultimately, consider if you would move your family into the condo you're looking to purchase. Making sure the HOA is properly managed and the grounds are well maintained are also key investigation points.... more
  • When to Buy a Better Car?
    Instead of buying a new car, drive the minimum car you can until you get past the first three Baby Steps.... more
  • Loan Converts to Scholarship
    Are the more expensive/prestigious schools worth the extra money in the end?... more
  • If It's Paid For, Do You Sell It?
    You never know what life is going to unexpectedly throw at you, and an emergency fund is great insurance against that sort of thing.... more
  • Dating and the Budget
    Avoid the topic of finances on a first date. Wait until a little later in a relationship to discuss financial matters.... more
  • Refund or Better Planning?
    Don't give the government an interest free loan. Adjust your W2 to minimize your tax return or payment in order to maximize your paycheck and have more money throughout the year.... more
  • Hold On For Now
    Emergency funds offer a nice cushion in the event of a layoff. By reigning in ex-penses and establishing a conservative budget you can help minimize the need to dip into it. Don't be too quick to sell your largest investment, your home.... more
  • Avoid the Gimmicks
    When it comes to insurance, Dave says watch out for ones with gimmicks. Let's get details.... more
  • Seminary Money
    Some thoughts on getting too big a refund from the IRS from Dave.... more
  • Ethical Dilemma
    If your ethical standards get in the way of your job duties, it may be time for a change. See if Dave's advice helps you in your own dilemma.... more
  • Don't Insure Cell Phones
    Stick to insuring the big ticket necessities. If anything smaller needs insuring than you may be biting off more than you can chew.... more
  • Don't Tithe with Credit Cards
    When paying your tithes you are better to stick to debit before turning to putting it on credit.... more
  • More of a Long-term Spending Thing
    Use age appropriate examples to teach children about saving and spending.... more
  • How Much House?
    When buying a house, try to keep your monthly mortgage payments to a fourth of your take home pay to keep you from getting in over your head.... more
  • Insurance for Young Couple
    When choosing life insurance, consider your life and family status when deciding which policy is right for you.... more
  • Mixing the Money
    Wait until after the wedding and honeymoon to combine finances. Keep saving and maintain your emergency fund. Once the deal is sealed, then you may begin to help pay off each others debts together and save together.... more
  • Competency and Integrity
    It's acceptable to have a family member as executor of your will so long as he or she has been taken into careful consideration. Informing your family of your intentions will help ease the stress of the process, limiting any disadvantages.... more
  • Staying Away From Scams
    You spend too many hours of your life at work to be miserable in what you do.... more
  • No Arguments
    When considering the sale of real estate, be sure to see if the current equity is worth the sale.... more
  • Never take an Adjustable Rate Mortgage
    Your future will never be what you think it will be. An adjustable rate mortgage could leave you in a bind when it's time to pay it off.... more
  • Make it a Fully Loaded Emergency Fund
    An emergency fund should consist of three to six months of expenses to be set aside for true emergencies.... more
  • Pausing the Baby Steps to Celebrate?
    If you are debating on whether or not to take that big celebratory vacation over staying true to reigning in your debt, consider Dave's advice and hold off. Assume control of your finances and celebrate twice as big.... more
  • Getting Back on the Wagon
    If you're having problems keeping your finances on track, Dave says the answer to your problems rests in one simple question.... more
  • Confirmation of Payoff?
    If you've paid off a debt, Dave says you should seek a formal letter saying so for your files. Here's why.... more
  • Is Loaning or Giving Helping?
    If a close friend is asking you for money, should you do it? Dave says you need to ask yourself several questions first.... more
  • Start Saving After Step 3
    When setting up your budget, is there a way to save to buy a house? Dave says yes. Here's how.... more
  • Structure Things Intelligently
    If you're still trying to balance your financial boat, move carefully when it comes to any side businesses, especially if your money may be involved.... more
  • Holidays and Family
    If you have a fracture in some family relationships Christmas may be a good time to take a first step. However, Dave says to keep it simple and honest.... more
  • What to do With Restricted Stock?
    So what is restricted stock and how do you handle it? Dave has some thoughts.... more
  • How do you have a wedding without debt?
    If you're planning a wedding, why plan something you'll be paying off for years? Dave says get creative and plan a wedding you can really afford.... more
  • Personal vs. Business
    It doesn't matter if your debt is personal or business because only you will be responsible for both. It's time to tighten your belt.... more
  • A Frank Discussion About Credit Cards
    Is it better to use cash or credit cards which you pay off every month. Here's why Dave loves using those dollar bills!... more
  • Goals Limiting One Another
    Before you decide to go out and buy a home, you need to decide if owning a home is more desirable than other life pleasures you currently enjoy. Here's Dave.... more
  • No New Years Debt Next Time?
    Giving at the holidays is a wonderful gesture, but do so with your budget and finances in mind.... more
  • You Can Catch Up Later
    If you are mainly debt free, aside from your home, it is ok to stop contributing to your 401(K) temporarily, until you get back on your feet.... more
  • Don't Freak Out
    So what happens when a working mom finds out a baby is in her future? Dave says it can be handled with proper planning.... more
  • Is Less Than 20 Percent Okay?
    Don't rush into buying a house. Wait until you're ready, both financially and emotionally to take that big step.... more
  • Where are you in Your Financial Plan?
    Don't exceed your spending limits just to own something new. Buy used items until you can afford new.... more
  • 7 Steps to Living the Life of Your Dreams
    With a lot of hard work and determination, anyone can get out of debt and build wealth to live the life of your dreams.... more
  • The Buying Decision
    So your job now requires your family to move to another state to live for a couple of years. Buy or rent? Here's what Dave has to say.... more
  • The Best Medicine
    You earn good money, but by month's end, you're hunting for change to make ends meet. Sound familiar? Dave says to put a stop to this, create and follow a budget.... more
  • No, no, no!
    When it comes to buying a home, don't even think about it if you're still staring at huge student loans.... more
  • The Best of the Three
    You have three choices when it comes to purchasing a car. Lease, make payments, or cash. Here's one instance where Dave says cash is king.... more
  • Pay Off Debt First
    Why you should forget about purchasing a home if you're still paying off back debts.... more
  • It Takes Two
    If only one partner takes care of family finances it's time to use both heads, especially if you've got money issues. Here is how Dave would fix things.... more
  • Put Warranty Money In Your Pocket
    If you're considering purchasing a warranty, Dave says think it through.... more
  • Does the Right to Collect Still Exist?
    When does the right to collect an old bill expire? Let's see what Dave says.... more
  • Budget Your Time, Too!
    So, you're headed off to college and need to work as well. How do you manage it all? Dave says it really is doable.... more
  • Doing the Right Thing
    You have heard the phrase, tough love. Dave has the tale of a couple who practiced it with their own son and why it serves as a great example.... more
  • Be Wise When Selecting a Roommate
    The question is what steps should someone take to find a good college roommate. The answer from Dave is take your time and be prepared to make compromises.... more
  • Make the Decision with Her
    When you're working your way out of debt, make sure to work the numbers before doing anything that reduces your present income.... more
  • Late Fees
    Responsibility is a valuable lesson all parents should teach their children.... more
  • Forcing Little Brother to Grow Up
    Forcing someone to make a lifestyle change is usually not accepted with open arms.... more
  • Welcome to Life
    Growing up, many of us received an allowance from our parents to do chores. Dave says this is one family tradition he feels needs to stop.... more
  • Thankfulness and Boundaries
    So what if your future in-laws offer to pick up the down payment on a house for you and your future spouse? As inviting as that sounds, Dave says he has a better idea.... more
  • Last Minute Shopping
    Dave has some great ideas on how to buy all those Christmas presents without winding up in a sea of debt.... more
  • Business License for a Seasonal Job?
    When do you need to go to city hall to get a business license? Dave has the answer.... more
  • Pursue Nursing Another Way
    Before taking on student loans to go back to school, Dave says there are other avenues to consider.... more
  • Minor Car Repairs Should Be in the Budget
    When you're putting together your monthly budget, Dave says to set aside some extra cash to keep your cars running.... more
  • Sell As-Is
    When it comes to borrowing to get your house in top condition prior to putting it on the market, Dave says it may not be worth it. Let's take a look.... more
  • A Hiring Predicament
    When it's time for a critical hire, it requires time, concentration, and a thorough investigation before you act. Dave has some thoughts on this.... more
  • Road Warrior Rule
    If your job involves lots of time driving, here are some ideas on how to get the best ride for the lowest price.... more
  • Going to Extremes is Unhealthy
    There are ways to remove extreme from those labeled as extreme spenders or extreme savers. Dave's got some thoughts.... more
  • No Need for Professionals
    Do you need to pay the expense of staging to sell your home? Dave says perhaps not.... more
  • Money and Behavior
    If you want to gain control of your money, Dave says start with controlling your own behavioral patterns.... more
  • Need a Side Income
    When your family income is dramatically cut, is it time to sell your home to get out from under a mortgage? Dave says maybe, maybe not.... more
  • What Percentage?
    Your home may be your castle, but when you retire, how much of your net worth should be tied up in that castle?... more
  • Your Wake-Up Call
    More of us are taking in elderly relatives to care for. What this is showing us is we really all need to set up a detailed written family budget.... more
  • Don't Need Those Cards
    Is a high credit score better than NO credit score at all?... more
  • Appreciate Depreciation
    When it comes to work vehicles, calculate whether it would make more sense for you to pay off your old vehicle or take the tax breaks on a new one.... more
  • Help and Wisdom
    If you're about to open your house to a needy stranger, it shows you have a great heart. However, your first need is to protect your family. Here are some steps to consider before taking the plunge.... more
  • Paying Stupid Tax
    When unexpected expenses such as medical emergencies strike and you can't pay, it's time to start living within a budget. Here's how to get started.... more
  • The Rebate Explanation
    How do cash-back rebates really work?... more
  • Pause Investing for a Luxury?
    Where in the Baby-Steps is there room for any additional expenditures?... more
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