Pick Your Community: | Hopkins | Muhlenberg | Daviess | Christian | Fayette | Henderson | Lakes | McCracken | Warren | Webster
Davis Motor Sales banner ad

Dave Says - April 14, 2013

dave R 300KENTUCKY (4/14/13) – This week Dave discusses Don’t ask for a Murphy visit and Too much for date night
 
Dear Dave,
Is there ever a time you should dip into emergency fund savings in order to pay off your home early? - Eric

Dear Eric,
The only time I would advise this is when your emergency fund is too big, and you have a very small amount left to pay on the house. Keep in mind that your emergency fund should be three to six months of expenses, not three to six months of income. Besides, paying off the house doesn’t fall into the category of an emergency. The fact that you have to pay for your house doesn’t catch anyone by surprise.

I understand it can be very tempting to throw a bunch of money at your house, get rid of the mortgage payments, and own it outright. But I wouldn’t drain my emergency fund to make it happen—even if it meant being completely debt-free sooner. Life happens, and the moment you write that big check and weaken your emergency fund, the central unit will go out, the roof will spring a leak, or you’ll have major repair issues with a vehicle.

When you do things like that, you’re just begging for Murphy to come visit. And that’s not my definition of financial peace! - Dave

Dear Dave,
My husband and I have a baby and are trying to live on a budget and pay off about $14,000 in debt. He wants to spend $100 a month for a date night, but I think this is too much under the circumstances. I’m a stay-at-home mom right now, and after taxes he makes about $3,200 a month. What do you think? - Ashley

Dear Ashley,
You win on this one. If you’d told me you guys make $150,000 a year, then I’d say he was being completely reasonable. But with your income and a lot of debt to boot, it sounds like he’s just looking for an outlet to spend some money. The good thing is you’re working together and beginning to take this personal finance thing seriously. You’re just a little bit apart on the particulars in this area.

I think you back this amount down to $40 or $50 for now. That’s plenty for a reasonable dinner and perhaps a baby sitter for a couple of hours. If you have family or friends nearby, you might not have to figure baby-sitting expenses into the equation at all. Keep in mind, too, that going out on a date doesn’t have to mean spending money. Years ago, when my wife and I were broke, we did tons of stuff that didn’t cost a dime. Picnics in the park or a pretty hike through the woods are great ways to spend time together while keeping the pocketbook in your pocket.

Be creative and make sure you find ways to have “us” time on a regular basis. But you’re right on this one, Ashley. You can go out and have plenty of fun together without spending a lot of money! - 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 2014 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.

Posted on 2/2/14
Genovese - http://www.mchky.org/staff/bio.php?doc_id=35646&sub= Lewis - http://www.mchky.org/getpage.php?name=bracken_lewis Holt - http://www.mchky.org/getpage.php?name=drholt Napier - http://www.mchky.org/getpage.php?name=dr.napier_page Newman - http://www.mchky.org/staff/bio.php?doc_id=50353
Genovese - http://www.mchky.org/staff/bio.php?doc_id=35646&sub= Lewis - http://www.mchky.org/getpage.php?name=bracken_lewis Holt - http://www.mchky.org/getpage.php?name=drholt Napier - http://www.mchky.org/getpage.php?name=dr.napier_page Newman - http://www.mchky.org/staff/bio.php?doc_id=50353
Posted on 1/31/2014
2/6/2014 - posted
2/18 - 553 clicks

Stock Report

1 DOW 16,408.54
-16.31 (-0.10%)    
2 S&P 1,864.85
+2.54 (0.14%)    
3 NASDAQ 4,095.52
+9.29 (0.23%)    
Genovese - http://www.mchky.org/staff/bio.php?doc_id=35646&sub= Lewis - http://www.mchky.org/getpage.php?name=bracken_lewis Holt - http://www.mchky.org/getpage.php?name=drholt Napier - http://www.mchky.org/getpage.php?name=dr.napier_page Newman - http://www.mchky.org/staff/bio.php?doc_id=50353
Genovese - http://www.mchky.org/staff/bio.php?doc_id=35646&sub= Lewis - http://www.mchky.org/getpage.php?name=bracken_lewis Holt - http://www.mchky.org/getpage.php?name=drholt Napier - http://www.mchky.org/getpage.php?name=dr.napier_page Newman - http://www.mchky.org/staff/bio.php?doc_id=50353
Posted on 1/31/2014
2/6/2014 - posted
2/18 - 553 clicks
Genovese - http://www.mchky.org/staff/bio.php?doc_id=35646&sub= Lewis - http://www.mchky.org/getpage.php?name=bracken_lewis Holt - http://www.mchky.org/getpage.php?name=drholt Napier - http://www.mchky.org/getpage.php?name=dr.napier_page Newman - http://www.mchky.org/staff/bio.php?doc_id=50353
Genovese - http://www.mchky.org/staff/bio.php?doc_id=35646&sub= Lewis - http://www.mchky.org/getpage.php?name=bracken_lewis Holt - http://www.mchky.org/getpage.php?name=drholt Napier - http://www.mchky.org/getpage.php?name=dr.napier_page Newman - http://www.mchky.org/staff/bio.php?doc_id=50353
Posted on 1/31/2014
2/6/2014 - posted
2/18 - 553 clicks

In Other News...

Bowling Green Man Arrested After Undercover Drug Purchase

BOWLING GREEN, Ky. (4/18/14) - The Bowling Green-Warren County Drug Task Force, with assistance from Warren County… Read More

WKU’s Top Business Students Inducted into International Honor Society

BOWLING GREEN, Ky. (4/20/14) — The WKU chapter of the Beta Gamma Sigma International Honor Society in business inducted… Read More
Genovese - http://www.mchky.org/staff/bio.php?doc_id=35646&sub= Lewis - http://www.mchky.org/getpage.php?name=bracken_lewis Holt - http://www.mchky.org/getpage.php?name=drholt Napier - http://www.mchky.org/getpage.php?name=dr.napier_page Newman - http://www.mchky.org/staff/bio.php?doc_id=50353
Genovese - http://www.mchky.org/staff/bio.php?doc_id=35646&sub= Lewis - http://www.mchky.org/getpage.php?name=bracken_lewis Holt - http://www.mchky.org/getpage.php?name=drholt Napier - http://www.mchky.org/getpage.php?name=dr.napier_page Newman - http://www.mchky.org/staff/bio.php?doc_id=50353
Posted on 1/31/2014
2/6/2014 - posted
2/18 - 553 clicks

Most Read This Week (Site-Wide)

April 16, 2014 19450

UPDATE- Sheriff's Office Following Leads…

in Top Stories by Taylor Riley, SurfKY News Reporter
April 17, 2014 4389

KSP Nabs St. Charles Man Wanted by U.S.…

in Top Stories by Trooper Stu Recke
April 16, 2014 3144

Sheriff's Deputies Nab Central City…

in Top Stories by Sheriff Curtis McGehee
April 17, 2014 2839

Meet The Hopkins County Magistrate…

in News by Rita Dukes Smith, SurfKY News Director
April 16, 2014 1595

Rand Paul - 'We Need a New President'

in Top Stories by Paul McRee, SurfKY News Reporter

Most Read Stories from Hopkins County

April 17, 2014 4389

KSP Nabs St. Charles Man Wanted by U.S.…

in Top Stories by Trooper Stu Recke
April 18, 2014 1118

Talking Teen Trashed Telephone Pole,…

in Top Stories by MPD
April 18, 2014 898

Earlington Traffic Stop Results in Meth…

in Top Stories by Trooper Stu Recke
April 17, 2014 733

Center Street-Island Ford Connector in…

in Top Stories by Rebecca Hanchett
April 19, 2014 687

Fifth Third on Main Street Comes Down

in Top Stories by Rita Dukes Smith, SurfKY News Director

Most Read Stories from Owensboro

April 16, 2014 934

New Home Health Care Opens in Owensboro

in News by Dennis Beard, SurfKY News
April 18, 2014 761

Daviess County School Board Hears…

in News by Dennis Beard, SurfKY News
April 18, 2014 732

One Arrested, Another Injured in Single…

in News by J.D. Marksberry
April 16, 2014 642

DCPS to Celebrate National Volunteer Week

in News by Lora Wimsatt
April 17, 2014 291

Owensboro Public Works Declares 'War on…

in Top Stories by Abby Shelton

Most Read Stories from Muhlenberg County

April 16, 2014 3144

Sheriff's Deputies Nab Central City…

in Top Stories by Sheriff Curtis McGehee
April 16, 2014 1275

South Carrollton Woman Injured in Head-on…

in Top Stories by Trooper Stu Recke
April 17, 2014 1189

Bremen Man Charged for Possession of…

in Top Stories by Muhlenberg Sheriff Curtis McGehee
April 16, 2014 1065

Three Injured in Kentucky 70 Collision

in Top Stories by Trooper Stu Recke
April 17, 2014 1002

Watson Family Tragedy Inspires Muhlenberg…

in Top Stories by Paul McRee, SurfKY News Reporter

SurfKY News Group, Inc. Central Office & Printing Division
1125 Nebo Rd.  •  Madisonville, KY 42431  •  270.452.2249 (fax)
Main Number: 270.452.2727 (phone)  •  Printing Division Direct Line: 270.821.8600 (phone)

SurfKY Owensboro News Bureau
920 Frederica St. / Suite 210  •  Owensboro, KY 42301  •  270.683-8060 (phone)


Contact a member of our staff: www.surfky.com/contact
Copyright © 2014 SurfKY News Group, Inc.  •  Terms of Use  •  Site Map

social 06social 21social 22social 04social 03