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Archive of Dave Says - Weekly Financial Blog
- Zero-based Budgeting Explained
Do you know where every dollar of your paycheck goes? Dave explains how to create a budget that accounts for every dollar of your paycheck.... more
- Use Non-Retirement Account to Pay Off Debt?
Should you use a non-retirement account to pay off debt? See what Dave Says about that.... more
- Get Practical When It Comes To Saving
When it comes to saving, how much you spend is more important than how much you make. Here are some tips for helping you save.... more
- Pay That Thing Off!
Dave discusses monthly car payments versus satisfying the note with funds from savings.... more
- Simple Steps
A written monthly budget helps you put a name to each dollar you earn and helps you plan for unexpected events.... more
- Keeping the Side Hustle Alive
Paying off debt by working a full-time job and a a side job can be challenging. When your side job requires either repairing or replacing a piece of equipment, here is what Dave has to say about it.... more
- A Very Generous Offer
When your in-laws want to give you and your wife a very large down payment for a home, hear what Dave Says is the right approach for the agreement.... more
- You've Got To Change The Person In The Mirror
Dave Says moving credit card balances to other companies with lower rates is not the answer to getting out of debt. Learn Dave's approach to this and tips that will help.... more
- Don’t Let Money Fights Steal Your Joy
Make Holiday Spending a part of your monthly budget items.... more
- Mandatory withdrawal at 72?
Dave provides some suggestions for taking a mandatory withdrawal at age 72.... more
- Build Wealth In College?
Dave provides advice to a master's degree student on studying, working and investing.... more
- This Lady's Getting It Done!
Dave discusses Wealth Building with an active duty military pilot and taking advantage of the Thrift Savings Plan offered by the military.... more
- Might Be Money Well Spent...At The Proper Time
Is a Mommy Makeover a need or a desire? When it comes to your finances the decision boils down to that. Dave discusses what you should do when it comes to getting out of debt.... more
- Worried About College
529 Plans are great for college savings plans. But what happens if you child attends a trade school? Read what Dave has to say.... more
- Don't Fall For It!
0% financing on a new car. Is it a good deal? Dave gives advice on what you should do.... more
- This Kid's a Planner!
Do you need a credit score to rent an apartment? Dave talks about renting and how it should be a short term thing.... more
- Your 15%
Saving for retirement is your responsibility. Learn what Dave recommends to do when saving for your retirement.... more
- Keep Teaching
While working on paying off your debt, is it a good idea to suspend your child's allowance? Learn how to use this and make it a teachable moment.... more
- Many Benefits To Budgeting
Learn why budgeting every month is the absolute key to gaining control of your finances.... more
- Self-Insure?
Long term care is expensive. Not many people can afford to pay for it out of pocket. Learn why a Long Term Care Insurance Policy is the right way to go.... more
- Combine Finances?
Thinking about your finances before you are married? Dave advises not to combine your finances until you are married. Read Why.... more
- Teachable Moments Are Valuable At Any Age
If you means to give a financial gift to your child, you may want to place some strings on it if they are impulsive buyers. Learn how to approach it.... more
- Look At Past Numbers, Then Proceed Realistically
Do a thorough review of your homes maintenance concern and develop your own budget for tackling the repairs.... more
- First, Understand The Problem
Depleting your savings to pay off debt is not a good idea. Keep at least 3 to 6 months of funds for expenses if you lose your income.... more
- Everyone Needs An Emergency Fund
Everyone needs an emergency fund. Know how to budget for it and how much you should have.... more
- Be Professional and Respectful
Being promoted from hourly to a salaried position can be a great opportunity. Know what to do and how to prepare to discuss (not negotiate) your worth.... more
- Those Convinced Against Their Will...
Telling your family how you became debt free might sound like bragging. Describe to them what you did and how good it feels. They just may come around.... more
- Travel Expenses?
Traveling for business can be costly, especially if you need to wait for your reimbursement checks! However, there are ways around this that will save you in the end.... more
- Preparing for the Real World
Making a marriage work takes more than love for each other. Second marriages can become even trickier when children from previous marriages are involved. Learning how to navigate through that takes time and patience.... more
- Control Your Own Destiny
Dave would not count solely on a pension, managed by someone else. Dave recommends building wealth that you can control.... more
- Protecting Your Assets
Dave advises to add an umbrella policy to protect your investments and assets.... more
- There's A Better Idea
Dave advises to have a sensible plan in place, rather than buying mortgage insurance.... more
- Think Of It As Murphy Insurance
Dave explains that the purpose of having an emergency fund is protect you from the unexpected.... more
- Bill Dispute
Dave advises to stay on top of a disputed bill and to not pay until they can prove that they are right.... more
- Increase Life Insurance?
Dave explains why it is not necessary to have 10 to 12 times your income wrapped up in life insurance policies.... more
- No, They're Not A Good Deal
Dave does not recommend extended warranties of any kind. They just aren't a good deal.... more
- It's A Better Idea To Pre-Plan
Instead of pre-paying, Dave advises to pre-plan and make decisions ahead of time.... more
- Cash out my Roth IRA?
Dave advises against cashing out a Roth IRA or any other type of retirement account early.... more
- Tighten Up!
Rather than refinancing, Dave advises a couple to tighten up their budget and save up for an emergency fund.... more
- Learning To Say No
Rather than borrowing money, Dave explains that through determined saving and living on a budget, you can save up for a car.... more
- Emergency Fund First, Then Investing
Dave explains the importance of saving up for an emergency fund first, rather than contributing to a 401(k).... more
- Keep It Small, And Budget For It
If you're trying to get out of debt, Dave's advice is to keep a small amount of cash in your wallet, and to budget for that too.... more
- How to Make Goals and Resolutions Become Reality
Dave shares his tips on how you can achieve your goals and make your resolutions a reality.... more
- There's No Magic Pill
Using a debt consolidation company will not get you out of debt. Dave explains how to really get out of debt and more importantly, stay out of debt.... more
- Starting off on the Right Path Together
Dave shares four important areas of agreement for couples, before they get married.... more
- Who Will Be Liable For The Debt?
Dave explains that there is one circumstance that can make you liable for your parents' debt.... more
- Great Start, But Follow The Steps
Dave recommends paying off all debt first, rather than investing any extra money.... more
- Why not Budget and Save?
Dave recommends saving up money for Christmas ahead of time, instead of using layaway programs to buy gifts.... more
- Decisions and Sacrifices
Dave explains to a stay-at-home mom that sacrifices have to be made to be able to afford living in a house that takes up too much of her family's income.... more
- Baby Step For Weddings?
Dave explains why he thinks setting aside money for a college fund is more important than for a wedding.... more
- Double For Couples?
Dave explains his basics of becoming debt free with his baby steps.... more
- Understand Your Investments Completely
Thinking about your future and saving money for it is a step in the right direction. However, it is important to understand stocks as much as possible before investing your money into them.... more
- How Much Emergency Fund?
Having an emergency fund is always a great idea. To figure out how much you should have put aside depends on a handful if things.... more
- Renter's Insurance?
Regardless of the valuables inside your apartment or home, do you want to make sure you have personal liability coverage. It is never a bad idea to cover yourself in case of any accident.... more
- The Partnership, Not the Family, Is the Problem
Getting into business as a family is always a great idea. However joining a partnership with them can become tricky. Having one owner and the rest getting paid like an owner can end with a much better outcome.... more
- Live Like Your Income Hasn't Changed
Everyone wants to get rid of debt and save money along the way. When there is an increase in your income, by acting as if there isn't one can he a great way to accomplish that.... more
- Term Life Insurance, Too?
Life insurance policies can get tricky and technical. Learning all you can about the different kinds and finding what works best for you and your family is important.... more
- Insurance Above and Beyond?
Life insurance is important is all about taming care of your family if anything happens to you. Get what you can afford, well keeping a good policy in place for your loved ones.... more
- Test His Resolve
Raising your children to be responsible with money is not an easy task. Like most things in life you need to learn the hard way, and that's exa what you should do with children when they need financial help, You will never learn if you don't have to...... more
- First, Catch Up!
Budgets and paying off debt need planning and smart financial decisions. Learning how and when to spend your money is important in a bright financial future.... more
- Time for Fun Money?
In order to make a marriage work, you need to be on the same page when it comes to finances. It's important to pay off debt and to get on a budget before freely spending money.... more
- Getting Motivated
Getting motivation to cut back and start a savings can seem daunting. When you focus on your goals and dreams for the future, it doesn't seem so bad and can give you the push that you need.... more
- Kids and Money
Teaching good spending habits from a young age is a great parenting tip. You want your kids to know its okay to spend, but it needs to have balance and structure. Saving and spending go hand in hand.... more
- Honesty and Togetherness
Managing money in a marriage is a mutual, joint thing. You both need to be upfront and truthful about spending habits or even saving habits. Together you can create a budget and financial plan.... more
- A Course In Day Trading?
Investments can be very beneficial or a total loss. Day trading in particular is never a good plan for income. Think of it as more of a hobby not a reliable source of income.... more
- You Don't Fake Poor
There are never any good tricks or shortcuts when it comes to money. Working hard for your money and providing for your family and yourself is what a good, hard working person does. Hard work pays off and sets a good example.... more
- Net Worth and Umbrella Insurance
Having a really good income or a high net worth can mean it may be worth it to have an additional umbrella policy. Making a lot of money or being worth a lot can make you a target.... more
- If You Can't Afford A 15-year Mortgage...
A 30-year mortgage is never a good choice. If a 15-year mortgage is not in your price range, than chances are you can't afford the house. A house isn't worth 30 years of debt.... more
- Combine Finances In Marriage?
Through marriage, there are so many things you share. Your finances should be one of them. By sharing your income, your sharing similar goals and dreams, which keeps your marriage strong with the same goals for your future.... more
- Long Distance Landlord?
As great as it is to own and rent properties, they thrive when you can manage it. If you are not near your rental properties, it can become tricky staying on top of them and your tenants.... more
- Diversify Advisors?
No need to have multiple financial advisors, just have one that you trust that will diversify your portfolio.... more
- Lost and Overwhelmed
Paying off debt and trying to save can become complicated. Sometimes you may think you are doing all you can to save money but in reality there is always more you can do. Finding what it is and going for it can make a big change.... more
- Above and Beyond
Having a separate retirement fund that is not through where you work is always a smart idea. You don't want all your money in one spot, in case something happens.... more
- You Always Need An Emergency Fund
No matter how good your pension may be, it is always a good idea to have an emergency fund. Anything can happen and you definitely want to be prepared for anything life throws at you.... more
- Emergency Fund for Business?
Having some type of financial cushion is good for both personal and business. When you own a small business some type of emergency fund is better than none!... more
- Budget Billing for Utilities?
Putting together a budget is important if you want a debt-free lifestyle. Knowing how to properly budget and save is crucial to staying on track. Hard work and dedication always pays off.... more
- Don't Go Too Far
As parents, not only is it your job to take care of your children financially but to teach them responsible money management. Teaching your children how to save, budget and spend money is important skills they will need for the rest of their lives.... more
- Be Intentional With Your Time
As a business owner it may seem tricky balancing work with your personal life. Life is all about finding balance and a happy medium. There is enough time in the day to run your business and to still have time for family and friends. Finding that balance will...... more
- Bridging the Gap
Losing your income due to layoffs or closings can be scary. Dave talks about what you can do during these times to budget what you have and don?t be afraid to ask for help.... more
- Length of Coverage?
There are many factors when it comes to being smart with your finances. One of them would be life insurance policies. A smart choice is term insurance, but knowing for how long is also an important decision.... more
- Finances Before, And After, The Wedding
When you get married, your debt becomes one as well. However, it is important to keep in mind, until your are legally married, their debt is not yours.... more
- Get Off the Account Today!
Don't share an account with boyfriend or girlfriend unless they become your spouse.... more
- Play It Smart
Wanting to open up your own business can be a great idea. Playing it smart and not taking huge risks will help you better succeed. You never want to put yourself in debt in hopes of a successful business.... more
- Investigate Your Options
There are things you should be aware of when investing your hard earned money. One for instance is investing through a life insurance company. When small figures are involved, it can be manageable. However, large numbers can be disastrous. Taking time to really assess your situation and options...... more
- Insurance and Savings
Paying off your debt, budgeting and saving money can be overwhelming, Lots of questions can arise and plans can sometimes seem better than they are. An important thing to remember is you can't start a savings if you owe money.... more
- A Teachable Moment
Co-signing might seem like a great idea to help somebody out. Before doing so both of you need to realize what is at stake. It is not always a good decision, considering you are putting both people's credit scores at risk.... more
- Let Her Take Care of the Payments
As humans, we make plenty of mistakes. As bad as they might be, the end result can be positive. Almost every mistake we make can turn into a valuable, life lesson. Learning to let others, even our children, fix things on their own, will teach them responsibility.... more
- Fight Back Against Fraud
Credit card fraud is a very real, very serious problem. There are many actions and steps you can take to prevent or bounce-back from these types of problems.... more
- Relationships and Money
Borrowing money can be a risky decision, even if it seems like a great offer. As generous as it is, it's usually not a good idea and can cause some awkwardness in the future.... more
- 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
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