Friday, January 30, 2015

davesays300 greenKENTUCKY (4/28/13) – This week Dave discusses Starting over after divorce and Should she have skin in the game?
 
Dear Dave,
My divorce will be final in a month, and I’ll have $100,000 when everything is over. I will also have $8,000 in credit card debt, and I’m currently unemployed. Do you have any suggestions to help me move forward? - Meryl

Dear Meryl,
The first thing I want you to do is raise your right hand and promise never to use credit cards again. Then, if you still have any of those awful things, I want you to cut them up and close out the accounts. The next step is for you to find some kind of income, whether it’s a regular job or just something part-time to get money rolling in on a regular basis.

Your credit card debt is a small part of your financial picture right now. I think I’d go ahead and pay off the cards. That way, you’ll be debt-free and still have $92,000 in the bank. But here’s the key. You have to live like that money doesn’t exist. Use just enough to get yourself settled, and go make some money so you can eat and keep the lights on.

A year from now, when you’re past some of this stuff emotionally and looking toward a new future, that money will still be sitting there. As long as you have this mentality, you’ll come through this mess stronger and in good financial shape. God bless you, Meryl! - Dave

Dear Dave,
My daughter has the opportunity to take a trip with her eighth-grade class. The cost is $650. Do you think she should have to contribute to the cost of the trip, or should I cover it all? - Colleen

Dear Colleen,
This is a really good question. When it came to making these kinds of decisions at our house, we’d take a look at whether the kid was behaving, getting good grades and stuff like that. It can be a challenge at that age, I know. But if they were living like responsible young people, we would pay for this sort of thing as a reward.

Still, at that age a kid should definitely have some skin in game. If you can pay for this without breaking the bank, and she’s fulfilling her responsibilities as a good kid, it would be a good idea to make her come up with her own spending money for the trip. You don’t want her to grow a sense of entitlement, and doing this would force her to work and save a little bit to make this thing happen! - Dave

* Dave Ramsey is America’s trusted voice on money and business. He’s authored four New York Times best-selling books: Financial Peace, More Than Enough, The Total Money Makeover and EntreLeadership. The Dave Ramsey Show is heard by more than 6 million listeners each week on more than 500 radio stations. Follow Dave on Twitter at @DaveRamsey and on the web at daveramsey.com.

 

Disclaimer: The content supplied by columnists and letters to the Editor on this site does not in any way, shape or form, implied or otherwise, necessarily express or suggest endorsement or support of any of such content, statement, or opinions therein. SurfKY News does not necessarily adhere to or endorse content provided by outside non-staff sources.

© Copyright 2015 SurfKY News Group, Inc. All rights reserved. This material may not be published, broadcast, or rewritten without permission. SurfKY News encourages you to share this story by using one of the social media links below.

In Other News...

Owensboro Falls to Lady Maroons, 46-40

MADISONVILLE, Ky. (1/28/15) — Junior guard/forward Adarian Gray scored 21 points and Shyia Foster, a junior guard,… Read More

Lady Trojans Topple McCracken County

PADUCAH, Ky. (1/28/15) — The Webster County Lady Trojans claimed their fourth straight win convincingly, defeating host… Read More

Most Read This Week

January 28, 2015 16792

UPDATED: Several Involved in Two-Vehicle Accident

in Local (Hopkins) Top News by Doreen Dennis, SurfKY News
January 23, 2015 10039

Local Church's Faith Restored; 71 Souls Saved…

in Video by Gary Gates, SurfKY News
January 26, 2015 7045

KSP Arrests Two on Child Porn Charges; MPD…

in Top News For All Sites Touching Hopkins by Trooper Stu Recke
January 25, 2015 6890

Dean’s List Announced

in Top News For All Sites Touching Hopkins by Joyce Riggs
January 28, 2015 6262

Nortonville Man Accused of Meth Possession,…

in Local (Hopkins) Top News by Madisonville Police Department/Hopkins County Detention Center
January 23, 2015 6125

Parents Face Charges after Marijuana Joint Falls…

in Local (Hopkins) Top News by Madisonville Police Department/Hopkins County Jail
January 23, 2015 4909

Nortonville Woman Charged for Meth Possession

in Local (Hopkins) Top News by Hopkins County Sheriff's Office/Hopkins County Detention Center
January 26, 2015 4745

School Board Votes 3-2 for Utility Tax

in Local (Muhlenberg) Top News by Charles W. Riley II, SurfKY News

Most Read This Month

January 08, 2015 21924

Woman Claiming to be 'Lady Gaga' Tours Town in…

in Top News For All Sites by Madisonville Police Department
January 15, 2015 21639

UPDATE: Fatality Victim's Name Officially Released

in Top News For All Sites by Doreen Dennis, SurfKY News

Stories Trending Today

January 28, 2015 16792

UPDATED: Several Involved in Two-Vehicle Accident

in Local (Hopkins) Top News by Doreen Dennis, SurfKY News
January 28, 2015 6262

Nortonville Man Accused of Meth Possession,…

in Local (Hopkins) Top News by Madisonville Police Department/Hopkins County Detention Center
January 29, 2015 4408

Man Charged with Sexual Abuse of Child

in Local (Hopkins) Top News by Doreen Dennis, SurfKY News
January 28, 2015 4149

Tax Recall Committee Formed Day After School…

in Local (Muhlenberg) Top News by Charles W. Riley II, SurfKY News
January 28, 2015 2813

Madisonville Police Arrest Reports - Jan. 28, 2015

in Hopkins News by Madisonville Police Department
January 29, 2015 2643

UPDATE - Students Have until Jan. 31 to Enter…

in General News For All Sites by James R. Comer
January 27, 2015 2576

Whitfield Works to Combat Prescription Drug Abuse

in General News For All Sites by Marty Irby
January 28, 2015 2388

Muhlenberg District Court Fines Handed Down

in Local (Muhlenberg) Top News by Charles W. Riley II, SurfKY News
January 28, 2015 2121

Hopkins County Sheriff's Reports Released

in Hopkins News by Hopkins County Sheriff's Office
January 28, 2015 1602

Letter to the Editor - Month of Mentors

in Hopkins News by Mallory D. Johnson
January 28, 2015 1558

Kentucky Lottery Results for Tuesday Jan. 27, 2015

in General News For All Sites by Kentucky Lottery
January 28, 2015 1503

Old City Hall Space to be 'First United Bank…

in Local (Hopkins) Top News by Doreen Dennis, SurfKY News