Archive of Dave Says - Weekly Financial Blog

Archive of Dave Says - Weekly Financial Blog

(The newest articles on the top)

  • You Need Actions, Not Words
    Saving can be a tricky time. Being married and having different views then your partner can make it seem impossible. Learning to change your ways with budgeting and saving can make all the difference.... more
  • Paid in Full?
    Credit cards seem to be a great idea, until you can't even pay your monthly payments. A lot of times your debt will transfer to a collection agency. In these types of situations it usually is in your best interest to accept.... more
  • Don't Play the Game
    A lot of times, an initial offer or investment may seem to be a great idea. A good handful of those times, they are not a good investment in the least! Learning how to manage and invest your money properly will allow you to always get your moneys...... more
  • Changing Jobs and Retirement Savings
    Retirement can be a challenging time in your life. Making sure you are prepared financially is the most important thing. Focusing on your retirement savings when you are younger and meeting with a financial advisor is always a wise decision.... more
  • Worried About Mom
    When it comes to managing money, wether it be yours or someone else's, it can be overwhelming. There are many questions and uncertainties and it can become a daunting task. Taking things one step at a time and thinking everything through is a good start to a lifetime...... more
  • Return of Premium?
    Purchasing a return of premium life insurance policy is never a wise decision. Typically they cost more and you're not guaranteed to receive the money back. It is better to put money aside in your own mutual fund.... more
  • That's a Lot!
    Saving for your retirement is crucial for your future. It is ideal to start this plan after debt has been paid off. However, life can through some curveballs at you and that's ok as long as you're not loosing the money.... more
  • Cash Out Stock For Emergency Fund?
    Emergency funds should always be readily available cash. That money should not be in any type of market or stock. Putting it in a type of simple money market account, will make it accessible and safe.... more
  • Make Sure It's A Gift
    Everybody wants to be debt-free and be able to have savings to keep them that way. Sometimes when making large purchases, family wants to get involved and help. There is nothing wrong with that, as long as it is a gift and not a loan!... more
  • Keep Your Emergency Fund Simple
    Having an emergency fund is great! When unexpected things are thrown your way, you're covered. The whole point of an emergency fund is to have it right then and there. Never tie-up your money and risk not being able to get it all back.... more
  • Short Term Planning
    Being debt-free is what everyone strives to achieve. When paying things off and saving money come into play, you need to be smart. Knowing how much and where to invest your money is crucial.... more
  • Retirement Contributions
    Starting a solid retirement plan is essential for your future. Investing your money in a good growth stock could leave you a millionaire by the time you retire.... more
  • Do What's Best For You
    You always want to do what's best for you. Keeping that in mind, some investments are just bad ideas and not worth it. It takes time and discipline to creat a savings and it's not a smart idea to throw it away on things that are not in...... more
  • Getting ready for the Baby Steps
    Following a strict plan and budget is essential in-order to get your finances in control. Paying off your debt needs to be done before saving any type of emergency fund.... more
  • Put Retirement on Hold Temporarily
    An ideal situation would be to have an emergency fund, be debt free and have a good retirement plan. However, it takes time, budgeting and a whole lot of saving to get to that point in your life.... more
  • Home Warranties?
    Whether you have money set aside or not, home warranties are just not worth it. You are much better off saving and creating an emergency fund for unexpected things life throws at you.... more
  • Dental Insurance for the Kids?
    Dental insurance can be very pricey and may not seem worth it. This applies even more so when it comes to kids dental insurance. Ways around this would be to self-insure for dental.... more
  • Wait on the Honeymoon?
    Spending money after loosing a job is usually not a good idea. However, some things that have already been planned and thought out may be okay to do. As long as you've been serious about saving and getting rid of your debt; there is always room for exceptions.... more
  • Strained Relationship Over Borrowed Money?
    Loaning or borrowing money from friends or relatives can become complicated and put strains on your relationships with each other. When involving people close to you, it's ok to help each other out with financial situations, just as long as it's a responsible decision and well thought out.... more
  • Providing Great Service Secret to Becoming Great Salesperson
    To be a great salesperson, make helping people your first order of business.... more
  • Should I Use My 401(k) To Pay Off My Truck?
    Following the Baby Steps will lead you to financial peace.... more
  • Emergency Fund in Cash?
    Having valuables or a cash emergency fund in your house is okay to do, as long as you don't keep it all there. Having a safety deposit box at a local bank is great idea. Having this will prevent loosing all of it due to fire or theft.... more
  • Pay It Off!
    Whether it's low interest or high interest, it's still interest! If you have the money to pay off one of your loans, do it. When possible, it is always best to pay for things up front, in full.... more
  • Close Up Small Business?
    A huge part of life and being a business owner is understanding things don't always go as planned. Opening a business can be a risk and can take a turn for the worst at any moment. Learning to stay committed and to see things through to the end...... more
  • Spending Money in the Budget?
    If you and your spouse are in good financial shape, there is nothing wrong with finding money in your budget for personal spending. Problems only start when the topic of how much money to budget or what you're spending it on becomes a disagreement.... more
  • Mortgage Disability Insurance?
    It is not typically recommended to get mortgage disability insurance. A better option would be to get long-term disability insurance which is usually inexpensive and can be obtained by your current employer.... more
  • Fix It, or Buy Another?
    Saving money while trying to pay off debt can be challenging. Making smart decisions and putting budgets in place can make financial decisions easier and save you money in the long run.... more
  • Forgive the Debt?
    Proceed with plenty of caution when loaning money to family or friends.... more
  • Sell Personal Car to Help Pay Business Debt?
    Find your company's sweet spot and learn how to maximize your profits.... more
  • Planning and Success
    The most important thing to keep in mind when wanting to switch your career is, it takes planning in order to have success. Before you leave your current job, you need something set in stone to replace it.... more
  • Need Life Insurance With No Dependents?
    Life insurance is mainly put in place so nobody can be harmed financially with your passing. If you have no debt, single and no dependents it is not necessary for you to have one.... more
  • Paying Off Credit Cards
    Debt can be hard to get rid of with all of your other financial responsibilities. Using your savings to pay off your credit cards is okay but with some conditions.... more
  • ID Theft Protection in the Baby Steps?
    Identity theft protection should be covering everyone in your household, including the kids. Unless you are completely off the grid, it is something everyone needs.... more
  • EE Bond Dilemma
    Getting out of debt sometimes means having to get rid of things you don't want. For instance, a car that is out of your budget should not be your priority when trying to rid yourself of debt.... more
  • Secured vs. Unsecured Debt?
    Whether it is secured or unsecured debt, both still put you at risk for losing your possessions. With secured debt, the loss will happen sooner and a lot easier than unsecured.... more
  • Larger Emergency Fund?
    Being laid off or your company going downhill fast can be scary. Having an emergency fund that covers three to six months of expenses will make your transition in-between jobs a lot less stressful.... more
  • Impress them!
    Your sure to miss 100% of the shots you don't take. Step up and give it your best every chance you get.... more
  • Communicate and Work Together
    Teach your children the value of earning, saving and giving in lieu of just showering them with stuff.... more
  • Don't Allow Them to Break the Rules
    Debt collectors have many rules and laws they must follow. For instance, they are not allowed to speak to anyone but you about the details of your debt.... more
  • Finding Responsible Renters
    Choosing renters can be tricky and stressful. Making some changes, like bigger deposits, credit checks, and face to face interviews will help lead you in the right direction.... more
  • Don't Cash Out Retirement
    You should not be using your retirement plan as a debt eraser. Being eager to pay off debt is a positive thing but cashing in a retirement plan to do so is a negative one.... more
  • The Numbers Don't Lie
    Statistically speaking, all debt is a roadblock between people and wealth. Meaning, all debt is a negative thing.... more
  • You Must Pay a Price to Win
    A lot of people live in the moment and don't have a solid financial plan for their future. Being careful and smart with your money now doesn't mean you can't still have fun while doing so.... more
  • Hiring the Right Person
    Businesses have problems with hiring a majority of the time. Learning ways to choose the right candidates is a process business owners should have down.... more
  • Insurance After Diagnosis
    When health issues get in the way of obtaining life insurance, try to find the nonconventional policies to hold you over until something better comes along.... more
  • Keep It Simple and Safe
    Do not invest your emergency fund! Let it sit in an account and don't touch it until it's needed.... more
  • Allow Them to Earn It
    Teach kids the importance of earning, saving and giving.... more
  • Always a Written Confirmation
    Getting a formal paid in full statement when you've completed paying off your debt is always a good idea.... more
  • Artistic Endeavors
    A hobby that brings in money is called a business.... more
  • No Obligation Here
    Family or not there is never obligations you have to follow through on, especially when it comes to financial situations. When it comes to your own hard-earned money, you do what you feel is necessary not what others think.... more
  • Step by Step
    Deciding when to go ahead and take on a mortgage can be a scary, confusing time. Such a big commitment needs a lot of thinking and planning, along with looking in depth of your finances.... more
  • Controlling Your Cash
    Control your money. Plan a monthly budget and prioritize your spending.... more
  • Teach Them While They're Young
    It's never too early to learn basic money management.... more
  • Postpone the Marriage?
    With all the right basics in place, it's okay to go into a marriage with some debt.... more
  • It Takes Two
    Luxuries should come AFTER the finances are in order. Everyone needs to prioritize.... more
  • Stand up to Them!
    You have a legal obligation to pay off your debt but collectors have rules to follow as well. Don't be afraid to stand up to them and not get taking advantage of.... more
  • Save Up, or Get a Mortgage?
    Being debt-free is what everybody strives for. However, sometimes it is ok to add some type of debt to your name, like a home mortgage.... more
  • It's Baby Step 1 for a Reason
    Even if you have some extra income and want to start reducing your debt, you shouldn't. The first step is an emergency fund, which you may find you need when paying off your debt.... more
  • First, Lay a Solid Foundation
    Having a solid foundation is important before you have and spend some extra money. It's just another example of hard work paying off and being worth it in the end.... more
  • Why Not Short-term Disability?
    Short term disability insurance...gimmick or good idea?... more
  • Low vs. No
    Low credit scores vs. No credit scores...not the same thing. Focus on paying off all of your existing debt, which will help you qualify for a mortgage.... more
  • Tiny Home Depreciation?
    Don't invest in things that don't have proven track records and don't go up in value.... more
  • Laptop Dilemma
    Don't make promises you can't keep. You're reality should keep you on budget.... more
  • Stop Spending Completely?
    Learn the difference between need and want. Necessities are needed, wants are not.... more
  • Selling a Car with an Upside Down Loan?
    Tip on selling a car with a higher banknote than the car is actually worth.... more
  • What Happens to the Debt?
    Unless you have a co-signer for your debt, once you pass away your debt will be covered through your assets.... more
  • Expenses, Not Income
    When putting together an emergency fund you need to base it off of household expenses not your income. It is not just a fund for covering income loss, it is a fund for any emergency.... more
  • Better Late Than Never
    Pay off debt as quickly as possible. The longer you wait the more you will end up owing.... more
  • Don't Let It Hang Around!
    Prioritize your way to financial freedom. You can't save and plan for the future when all your income is going towards debt.... more
  • Many Already Know
    It is not your job to convince anyone that the government isn't the solution to their problem. Chances are they already know that.... more
  • Access to My Checking Account?
    You have to be careful when giving out your checking account information. Most of the time it is entirely safe giving access to your account unless it is a debt collector.... more
  • 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!
    Use emergency money for an actual emergency and increase budget if necessary.... 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