Thursday, 07 April 2011 14:31

Why Canít She Get Another Job?

Written by  Dave Ramsey
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Question: I listen to you often and enjoy your radio show, but why don’t you ever ask women to go to work? When a family is broke, and the woman is at home raising one child who is already in the fifth grade, why can’t the wife get a “second job?”

 

Answer: I think far too many ladies, in the name of paying for stuff they don’t need, have left the household and the children for the workplace. Many of them didn’t even want to do this; they just felt obligated to do it by people like you. There are a lot of ladies who have sacrificed their ability to be full-time moms on the altar of the car payment.

Now, sometimes ladies have to go to work. There’s a time and a place for that kind of thing. But if there’s any way I can financially and budget-wise figure out how mom can be waiting at home with a big hug and a plate full of cookies when that fifth grader walks in the house – and if that’s what she wants to do – then you’re going to find me fighting for her opportunity to do that. There’s no higher calling on the planet than motherhood. We’ve lost that in our culture, and we’re suffering dearly for it.

I’m no Neanderthal jerk. I don’t say every mother has to be at home or they’re a bad person. But these days we’ve got very few people who defend full-time, in-the-home motherhood. The inference you’re making is that she’s not helping, or worse, lazy. Why don’t you go take over her job for a week? I think you’ll find out in a hurry there’s not a lazy bone in her body!

Question: My wife and I just relocated for my new job. Right now we’re renting an apartment, and we should make about $15,000 on the sale of our old house. Should we use the money from the sale of our house to pay off all our debt, or go ahead and use it as a down payment on a new home now?

Answer: Traditionally, lots of people would tell you to use the money now to help save up for a down payment. The problem is that I’m not traditional at all.

I love real estate, and I want you guys to own your own home again. But even more than that, I want to see you two get out of debt and stay out of debt!
I know this wouldn’t be a popular plan with some folks, but if you’ve got no debt – along with a decent, inexpensive place to hang your hat for a couple of years – you’ll be able to save money like crazy for a fat down payment. It will also give you time to become familiar with the area and find a place you both really like.

When you lose the debt, you gain control of your largest wealth-building tool – your income. That’s when the fun begins!

Question: I’m 24-years old, and just got married two months ago. We make $80,000 a year, have our emergency fund and no debt, plus we’ve saved up for a 15 percent down payment on a house. I know you suggest 20 percent, but is 15 percent okay?

Answer: I don’t have a lot of issues with 15 percent instead of 20 percent. You’ll probably end up having to pay private mortgage insurance, but it sounds like you guys are in good enough shape financially to handle things.

However, I generally recommend that couples wait until they’ve been married at least a year before buying a home. Buying a house is huge decision. I think it’s smart to wait and get to know each other even better before making a decision of this magnitude.
 

Last modified on Friday, 08 April 2011 14:34
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