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Archive of Dave Says - Weekly Financial Blog

Archive of Dave Says - Weekly Financial Blog
Giving Beyond Tithing
How to handle growing family expenses and still tithe as pledged.... more
Slow Down on Mortgage Acceleration
If you're looking for ways to pay off your mortgage more quickly, a biweekly payment plan is great but you should avoid added costs, like mortgage accelerator programs.... more
Keep the Emergency Fund Where?
Don't worry so much about the interest your emergency fund may, or may not be, accruing. It's there for emergency purposes and should be easily accessible when you need it.... more
The Baby Timeline
Don't add unnecessary stress to the home buying experience. Consider all foreseeable major events in your near future before you decide to take the leap into homeownership.... more
A Prodigal Daughter
There is a time when paying off a child's debts is the right thing to do, especially when health issues are involved.... more
Single and Staying on Track
It doesn't matter if you're married or single. The best way to keep your finances in line is to create and stick to a budget.... more
Brother's Bad Deal
If you've hired a relative as your real estate agent, and things are not working out, can you fire him without causing a family war? We have some tips on the right way to do it.... more
Section 8 Housing Dilemma
If you own some residential properties and are thinking of turning some of them into Section 8 Housing, do lots of research because there a numerous land mines in being a Section 8 property owner.... more
Debt Snowball and Rental Property
Prioritize your debt. Categorize debt into the Baby Steps plan and you should avoid getting hit with the Debt Snowball.... more
When do I Need Umbrella Insurance?
A good point to consider obtaining Umbrella Insurance is when your net worth reaches $500,000.... more
Better Car, Better Gas Mileage?
Before you rush out to buy a vehicle that gets better gasoline mileage, be sure you understand all the costs involved with such an upgrade. Purchasing an expensive fuel efficient vehicle doesn't make sense if the cost of the new vehicle wipes out an potential gas savings.... more
Life Insurance vs. 529
If you're ready to develop a plan to save for your children's college education, steer clear of life insurance policies and consider a 529 plan instead.... more
Budgeted Fun
To determine if a purchase is reasonable, consider your income-to-asset ratio when deciding on that purchase.... more
How Much Term do I Need?
You should have enough life insurance to ensure that your family is well taken care of when you're no longer around.... more
Emergency Funding
Why setting up a household emergency fund is a great idea, and how to make it all work for you.... more
Should We Stop Paying Commission?
Even when cash is tight at home, parents SHOULD continue to pay their children commissions for household chores as a learning tool.... more
This is Your College Fund
If you're setting aside money for your young child's eventual college education, consider a 529 plan over a simple savings account.... more
Co-signer Passed Away
When a survivor is and is not responsible for debts incurred by a deceased spouse.... more
Don't Use a Land Contract
Why purchasing a home on a land contract is a bad investment idea.... more
A Tricky Joint Account
Ideas on how to better keep track of joint checking accounts.... more
A Rough Lesson
You have rights as a consumer, and you are not legally liable for credit card debt when you're just an authorized user.... more
Wealthy, but not Spoiled
To teach kids the value of money, gently remind them that they've got nothing until they go out and earn it.... more
Big Car Debt, Small Income
If you're paying off an expensive car thatcosts more than 50% of your income, then it's time to sell off the car and find something more affordable.... more
Serious Talk Time
When unexpected medical costs strike a family, it's time for the kids to pitch in with part time jobs and stop thinking about expensive college options.... more
Finding Good Tenants
There are several steps you need to take as a property owner to insure potential tenants are a good risk.... more
Denied for Life
There are ways to find life insurance for someone who is considered uninsurable.... more
The Ever-Changing Budget
Your budget will vary from month to month. Make adjustments accordingly and you shouldn't be backed into a corner.... more
Bankruptcy Just for Her?
Don't try to use bankruptcy as an escape from a negative financial situation.... more
What Term Does He Need?
The length of a term life insurance policy depends greatly upon how young your children are and if a bigger family is planned.... more
Buying a House With 403(b) Money
Using retirement funds to purchase a house is not the best of ideas.... more
Impulsive May Equal Homeless
If you're ready for a career change, make sure you thoroughly examine all of the aspects of leaving what you have, and don't make any impulsive decisions.... more
That's Why you Have Health Insurance
You should say yes to health insurance as a small business owner, but say no to the idea of specific cancer insurance... more
Loving Your Friend Enough for the Truth
Here's some very sound advice for anyone going to college and gearing up for those expensive student loans. Make sure the career you're planning will pay enough to pay off those massive loans.... more
Not Enough Down Payment?
If you don't have the 20% for a mortgage down payment, it will get very costly because of something called the PMI. It's something you should try to avoid.... more
Wants aren't Emergencies
... more
Getting the Guilt Trip
How to help financially strapped parents without letting them see your help as an entitlement.... more
Is Converting to a Roth Smart?
When is it smart to move funds from a IRA into a Roth IRA?... more
Roommate Agreement with Family?
Should you let your in-laws move in with you while they get back on their feet, and, if so, what sort of guidelines need to be put in place.... more
Thinking Long Term
Long term health insurance, and why you should make it happen when you hit 60.... more
Her Blessing was to be a Blessing
Honoring your Mother has nothing to do with refusing to use her stock inheritance.... more
No Downside...If
Dave talks about the ups and downs of frequent home refinancing.... more
No Deal Broken
Should parents be expected to pay for a child?s law degree.... more
Retirement Blend
Dave advises to chose self-chosen funds because you will have more control of your investment.... more
Is Combining Them Smart?
Dave advises on combining mortgage and home equity loan in to one loan at the shortest time possible to pay off the loan.... more
Altering a Baby Step
Breaking the rules: Sometimes you just have to do it.... more
Move or Set Family Boundaries?
Setting the Boundaries: Establishing boundaries in a relationship can be far more effective than geographical boundaries.... more
Is it in the Will?
Dave advised honoring terminally ill dad's wishes and add his wishes to the Will as long he is of sound mind when he made it.... more
Is it ever too late to get life insurance?
Dave says it is never too late to get life insurance, but acknowledges that past 70 it may be more difficult.... more
Watch What you Give Them!
Dave suggest not supply any extra information to debt collectors.... more
Resenting the Family Loan
... more
Fixing the Transmission
Dave advised someone to sell an old truck that needs repair instead of taking a loan to fix it.... more
Exchange Traded Funds as Investments?
Dave advise against exchange-traded funds as an investment vehicle.... more
Time to Pay It Off!
Dave advised someone to pay off their home equity loan.... more
How Do Mutual Funds Work?
Dave explains how mutual funds work.... more
Today's Necessities
Dave explains necessities in today's world while living on a budget.... more
She Stole His Identity
Dave explains identity theft issues with divorced couples.... more
Essential Expenses
Dave explains essential expenses.... more
Should She Have Skin in the Game?
Dave gives advice on when to pay for your children, and when they should have to chip in.... more
Starting Over After Divorce
Dave gives tips on how to move forward financially after divorce.... more
You Lose Control with Repossession
Dave explains why it is important to avoid repossession of your car, and how it could hurt you more financially.... more
Making it Through Medical Leave
Dave gives his advice on what to do and what not to do for finances while on medical leave from work.... more
Forgiven Debt
Dave gives his opinion on paying forgiven debts.... more
You're not Stunting Her
Dave gives his opinion on family members helping out with the bills while they are staying with you.... more
Too Much for Date Night
Dave gives his opinion on spending money on a 'date night' and alternatives you can take to save that money.... more
Don't Ask for a Murphy Visit
Dave gives his opinion on taking money from your emergency fund savings.... more
Buying Wholesale
Dave gives his opinion on wholesale club memberships.... more
Something to Salvage
Dave gives his opinion on buying a salvaged car.... more
No on Rent-to-Own!
Dave gives his opinion on rent-to-own housing, and why it is not a smart option.... more
Can I Motivate My Parents?
Dave gives his opinion on retirement, and says the best thing you can offer is hope.... more
There's a Better Option
Dave explains EE Series Bonds and the best option of what to do with them.... more
What's the Difference?
Dave gives his opinion on debt and what bills to pay off.... more
Do not Move the Money
Custodial accounts vs. being awarded as much in scholarships and other assistance.... more
Credit Card Churning - Don't Move the Money
What do you think about the practice of credit card churning? Also, Both of our daughters will start college next year.... more
Credit Card Churning
What do you think about the practice of credit card churning?... more
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