Saturday, 08 July 2017 05:18

Dave has Answers to Your Questions!

Written by  Dave Ramsey
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Skipping to the Altar

Q. My wife and I make good money, and our daughter’s college education is pretty much paid for through pre-paid tuition and scholarships. We just started your plan to get out of debt and take better control of our finances. When we get to Baby Step 5, which is saving for college, can we substitute that with saving for a wedding?



A.That would be fine. I’m glad you’re thinking ahead. It’s always a good idea to save toward a wedding if you have the financial resources to do so, because weddings are real and they’re coming.


The average wedding in America today runs around $35,000. Of course, you don’t have to pay anywhere near that amount to make it a beautiful occasion. Your household income, debt, savings and other factors will all play into how much you can afford.


Just remember to pay cash for the wedding. If you have to go into debt to make it happen, then you’re talking about too much money. It’s as simple as that. Crunch the numbers with your wife, and see what you two can handle.


And remember, there’s absolutely no correlation between the cost of a wedding and the success of the relationship!




Bad Advice From a Bad Friend


Q. My husband and I are currently in Baby Step 2, and paying off all our debt except for our home. A friend recently told us to pay off everything except for the credit card debt. She says we can then settle for a far less amount and not have so much money going out the door. This feels a little unethical to me. What are your thoughts?


A. There’s a good reason this idea feel unethical to you — it is unethical! Would a good friend, a smart friend, encourage you to do something as dishonorable as not pay a bill you’re morally and legally obligated to pay? I don’t think so.


If you’re able to pay your bills, you pay your bills. It’s as simple as that. Now, if you honestly can’t pay the bill, and you have to settle upon a mutually agreed upon amount with the creditor or collector, then it’s okay at that point to try and reach a settlement.


Otherwise, it’s a simple question of ethics. Pay the bill!


Last modified on Saturday, 08 July 2017 05:58
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