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Dave Says
| By Dave Ramsey |
Debt Freedom More Important than Marriage?
When does reaching the point of being debt-free become more important than marriage? We’re following
your plan and doing the debt snowball, but my husband’s been working a second job. . .
Balancing Ambition and Contentment
How do you balance ambition with contentment?
Using the Emergency Fund
My husband and I are debt-free, and we’ve got a fully funded, six-month emergency fund in place. The
problem is that he lost his job last month. I’m still working part-time and bringing home $150 a week.
Prioritizing Saving as an Adult
I’m 20 years old, and I’m working my way through college. I’ve never been in debt, and I’ve already got a
good emergency fund in place. But it seems like there are so many things to plan for down the road. How
do you prioritize and manage saving for a better car, investing, marriage, kids and everything else in life? It
all seems so overwhelming.
What Term Level Should I Buy?
My husband and I are both 37 years old, and we have two children, ages six and four. We follow your plan
and we’ll be debt-free, except for our house, by next May. How should we determine whether to get 20-
year or 30-year level term life insurance plans?
When Do I Close the Cards?
Do you recommend paying off credit card balances before or after you close the accounts?
Know When to Leave
I’m 25 years old and have served in the military for seven years. I’m not sure I like what I’m doing as much
as I did a few years ago, plus I’ve had some pretty exciting opportunities come my way in another field. Do
you think it would be worth it to stay in for another 13 years just to get full retirement benefits?
Taking Stock in an Emergency
I like your idea of having an emergency fund. Currently, I have $17,000 in General Mills stock. Can I use
this as my emergency fund?
Showing Mercy
I have tenants who have been perfect in paying rent on time for almost a year. Last month, the woman lost
her job, and when I went to collect the rent the other day, she said she didn’t have any money. I’m pretty
sure they used part of it for a car payment and the electric bill, and I know they need these things. Still, I’m
torn over how to handle this and how much mercy to show.
Living Will
My husband and I have been married for three years. I’m 25 and he’s 29. We have no children yet, but we’
re trying to put our financial lives in order. At what age do you recommend getting a living will?
What's Included
I’ve heard you say that your mortgage payment shouldn’t be more than 25 percent of your take-home pay.
Does this figure include taxes and insurance, or just principal and interest?
Missing Out
I’ve only got a high school education, and I’m stuck in a dead-end job. I’ve always been a hard worker, so
the 70-hour weeks don’t bother me. However, I do miss getting to spend time with my kids. I feel like I’m
missing out on their lives.
No Experience, Apply Anyway
Do you think it’s a good idea to apply for a job if you have a degree in the proper field, but no real work
experience in that area?
Ready to Buy?
I graduated from college in May, and I already have a job in my field. It was a part-time position that went
full time, so I already have $15,000 in an IRA and about $23,000 in savings.
Asking for a Raise
What’s the best way to ask for a raise at work?
We're Safe From Murphy Right?
My husband is getting ready to retire. With his pension, we’ll still have an income of about $52,000 a year.
He thinks we don’t need an emergency fund because we’ll still have good money coming in on a regular
basis.
Spoiled All Around
My husband and I are not on the same page when it comes to money and our three teenage daughters. I
think they should learn to work and make some money, but he doesn’t care if they work or not.
Worried About the Future
I’m worried about my parents and their finances. They’re both in their fifties, and they’re not being very
responsible with their money. I’m especially concerned about what this could mean when they reach old
age.
When does reaching the point of being debt-free become more important than marriage? We’re following
your plan and doing the debt snowball, but my husband’s been working a second job. . .
Balancing Ambition and Contentment
How do you balance ambition with contentment?
Using the Emergency Fund
My husband and I are debt-free, and we’ve got a fully funded, six-month emergency fund in place. The
problem is that he lost his job last month. I’m still working part-time and bringing home $150 a week.
Prioritizing Saving as an Adult
I’m 20 years old, and I’m working my way through college. I’ve never been in debt, and I’ve already got a
good emergency fund in place. But it seems like there are so many things to plan for down the road. How
do you prioritize and manage saving for a better car, investing, marriage, kids and everything else in life? It
all seems so overwhelming.
What Term Level Should I Buy?
My husband and I are both 37 years old, and we have two children, ages six and four. We follow your plan
and we’ll be debt-free, except for our house, by next May. How should we determine whether to get 20-
year or 30-year level term life insurance plans?
When Do I Close the Cards?
Do you recommend paying off credit card balances before or after you close the accounts?
Know When to Leave
I’m 25 years old and have served in the military for seven years. I’m not sure I like what I’m doing as much
as I did a few years ago, plus I’ve had some pretty exciting opportunities come my way in another field. Do
you think it would be worth it to stay in for another 13 years just to get full retirement benefits?
Taking Stock in an Emergency
I like your idea of having an emergency fund. Currently, I have $17,000 in General Mills stock. Can I use
this as my emergency fund?
Showing Mercy
I have tenants who have been perfect in paying rent on time for almost a year. Last month, the woman lost
her job, and when I went to collect the rent the other day, she said she didn’t have any money. I’m pretty
sure they used part of it for a car payment and the electric bill, and I know they need these things. Still, I’m
torn over how to handle this and how much mercy to show.
Living Will
My husband and I have been married for three years. I’m 25 and he’s 29. We have no children yet, but we’
re trying to put our financial lives in order. At what age do you recommend getting a living will?
What's Included
I’ve heard you say that your mortgage payment shouldn’t be more than 25 percent of your take-home pay.
Does this figure include taxes and insurance, or just principal and interest?
Missing Out
I’ve only got a high school education, and I’m stuck in a dead-end job. I’ve always been a hard worker, so
the 70-hour weeks don’t bother me. However, I do miss getting to spend time with my kids. I feel like I’m
missing out on their lives.
No Experience, Apply Anyway
Do you think it’s a good idea to apply for a job if you have a degree in the proper field, but no real work
experience in that area?
Ready to Buy?
I graduated from college in May, and I already have a job in my field. It was a part-time position that went
full time, so I already have $15,000 in an IRA and about $23,000 in savings.
Asking for a Raise
What’s the best way to ask for a raise at work?
We're Safe From Murphy Right?
My husband is getting ready to retire. With his pension, we’ll still have an income of about $52,000 a year.
He thinks we don’t need an emergency fund because we’ll still have good money coming in on a regular
basis.
Spoiled All Around
My husband and I are not on the same page when it comes to money and our three teenage daughters. I
think they should learn to work and make some money, but he doesn’t care if they work or not.
Worried About the Future
I’m worried about my parents and their finances. They’re both in their fifties, and they’re not being very
responsible with their money. I’m especially concerned about what this could mean when they reach old
age.
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