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Archive of Dave Says - Weekly Financial Blog
- The Normalization of Debt: How It Happened and Why It’s Keeping You Broke
In a world where debt is normalized, financial literacy is crucial. Break free from debt cycles to reclaim financial freedom and pursue your dreams.... more
- An Emergency Fund Isn’t About Instant Gratification
When tapping into your emergency fund, ask: Is it unexpected, necessary, urgent? Be patient, avoid impulse buys, prioritize true emergencies.... more
- Guide Them, but Let Them Learn from Their Mistakes
Teach kids financial responsibility by letting them experience consequences, guiding them through mistakes, and fostering independence.... more
- But Will He Listen?
Guide friend gently to realistic goals. Encourage budgeting, job stability. Support with care and honesty.... more
- Celebrate and Give With a Plan in Place
Budget monthly for holidays. Give thoughtfully, avoid debt. Stick to plan. You’ve got this!... more
- For Starters, Have A Plan
Embrace fear, disgust, contentment. Craft strict budget. Avoid temptation. You’re capable. Stay determined.... more
- It’s a Credit Card Addiction
Address credit card addiction with love and honesty. It’s tough, but essential for her well-being.... more
- Be Gentle, He’s Moving in the Right Direction
Collaborate with your husband. Acknowledge his concerns, set a reasonable emergency fund goal, then cut up cards and close accounts for financial security.... more
- Pay Off Their Student Loans?
Clear the Parent PLUS loans now. Extended plans are unwise. Use savings at 59 1/2. Government programs can be misleading.... more
- Don’t Buy a House Together Before You’re Married
Delay home purchase until after marriage. Prioritize communication and avoid potential risks. It’s a significant decision; take your time.... more
- Go into Debt for a Wedding? Nope!
Dave Ramsey approves saving for a wedding during Baby Step 5 if financially feasible. Emphasizes paying cash to avoid unnecessary debt in celebrations.... more
- Control Your Own Destiny
Secure your retirement with 15% personal savings. Employer contributions don’t count. Take control of your financial destiny for a dignified retirement.... more
- It’s a Gift to Your Family
Dave recommends preplanning funerals for family ease. Discourages prepaying, citing industry profits and limited investment returns.... more
- Eventually, You Become Self-Insured
Secure your family’s future with life insurance. Choose a term based on future plans. Aim for 10-12x income coverage. Stay debt-free and save for retirement.... more
- Risk is Real
Dave cautions against live-in flip real estate due to risks. Advocates careful planning and preparing for worst-case scenarios.... more
- When You Nickel and Dime Things, Nothing Gets Done Well
Dave suggests pausing 401(k) contributions during Baby Step 2, focusing intensely on debt payoff for faster financial progress.... more
- You Need a Better Plan
Seasonal predictable downturns in your business should not be considered an emergency. Based on your skill set, plan on those times that will allow you to keep earning money!... more
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