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

Dave Says - November, 18, 2012

davesays300 green2KENTUCKY (11/18/12) - This week Dave will be discussing Authorized Users Don’t Help Your Credit and Season Tickets are a Luxury.
 
Dear Dave,
My brother asked me to put his name on my credit card as an authorized user. He said it will help improve his credit score. Is this true, and would it help my score in any way? - Anna

Dear Anna,
Your brother is wrong. It will not improve his credit score at all. As an authorized user, he is not the owner of the debt. There’s a high likelihood that it will affect your credit score in a negative way, though, because there’s a good chance he’ll do some dumb things with your card.

Look at it this way. Why would someone give him credit, or raise his credit score, just for using your credit? It doesn’t make sense. Your credit score is affected by things like whether or not you pay your bill on time. The card isn’t in his name, so really all this amounts to is him having fun with your card, and you’re the one who’s liable for the damage. The truth is that authorized users shouldn’t even show up on a credit report.

It sounds like your brother has some financial problems. While I admire the fact that he wants to fix things, this is not the answer. Don’t misunderstand what I’m saying, Anna. Chances are he’s not trying to con you. He probably just got some bad information. But the hard truth is this: If you go along with his idea, it’s not going to help him, and it’s going to hurt you. Don’t do it! - Dave
 
Dear Dave,
In terms of a family’s financial plan, when is it okay to purchase something like NFL season tickets? Is this the kind of thing that should wait until you’re debt-free and can afford to pay cash for them? - Greg

Dear Greg,
Absolutely, you should wait until you’re debt-free and can pay cash. That kind of thing is a prime example of an expensive, luxury purchase.

I’m an NFL season ticket holder for the Tennessee Titans. But I’ve been debt-free for years, and my family’s financial future is very secure. Whether the Titans win or lose, or whether I watch the games in person or in front of the television, has no impact on their security. However, if you’re sitting there with credit card debt, a car payment and living paycheck to paycheck, you’ve got no business buying season tickets. Get yourself out of debt, build an emergency fund, and make sure your family is taken care of first. Then you can have some fun. Live like no one else so that later you can live like no one else. And then, if that includes season tickets to your favorite football, baseball or hockey team, have a blast!

Remember, this kind of thing is entertainment. I know a lot of silly people out there act like whoever wins a football game is a matter of life and death, but it’s just a game. Your life and your financial future are not games, and they’re not things to be taken lightly. First things first, Greg. There will be plenty of time for that kind of fun when you can afford it! - 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 5 million listeners each week on more than 500 radio stations. Follow Dave on Twitter at @DaveRamsey and on the web at www.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.

Started 11/8/2013
Started 11/8/2013
Started 11/8/2013
Started 11/8/2013
Started 11/8/2013
Started 11/8/2013

In Other News...

Bell Captures Greater Owensboro Championship Tour Title

OWENSBORO, Ky. (7/22/14) — Madisonville golfer Trevis Bell fired a 5-under-par 66, a tour championship record, to win… Read More

Families Upset About Piney Groves Cemetery ‘Clean Up’

DAWSON SPRINGS, Ky. (7/21/14) ― Families with loved ones buried at Piney Grove Cemetery on Kentucky 672 in Caldwell… Read More
Started 11/8/2013
Started 11/8/2013

Most Read This Week (Site-Wide)

July 22, 2014 2512

Madisonville Woman Charged With…

in Top Stories by Madisonville Police Department
July 21, 2014 2149

Five Sent to Hospital After Two-Vehicle…

in Top Stories by Rita Dukes Smith, SurfKY News Director
July 21, 2014 1506

Business Spotlight - Painted Window Aims…

in Top Stories by Charles W. Riley II, SurfKY News
July 19, 2014 1463

Cash Mob Descends on Muhlenberg…

in Top Stories by Rita Dukes Smith, SurfKY News Director
July 21, 2014 1346

Madisonville Police Arrest Reports - July…

in News by Madisonville Police Department

Most Read Stories from Hopkins County

July 22, 2014 2512

Madisonville Woman Charged With…

in Top Stories by Madisonville Police Department
July 21, 2014 1050

Madisonville Fire Chief Announces…

in Top Stories by Rita Dukes Smith, SurfKY News Director
July 19, 2014 1039

Local Hip-Hop Artist, Marack, Talks About…

in Top Stories by Amber Averitt, SurfKY News
July 21, 2014 1005

Three Injured in Three-Vehicle Collision…

in Top Stories by Rita Dukes Smith, SurfKY News Director
July 19, 2014 820

Riddle Insurance Inaugural Flight

in Top Stories by Ron Sanders

Most Read Stories from Owensboro

July 21, 2014 1002

Portion of Southeastern Parkway Closed…

in News by Beth Cecil
July 22, 2014 656

Alliance for a Drug Free Owensboro and…

in News by Carla Shelton
July 22, 2014 476

Daviess County Traffic Advisory

in News by Keith Todd
July 21, 2014 439

Strahan Selected as Cravens Elementary…

in Top Stories by Julie Ellis
July 21, 2014 231

ODC 14-Year-Olds Win West State, Move on…

in Top Stories by Steve LeMaster

Most Read Stories from Muhlenberg County

July 21, 2014 2149

Five Sent to Hospital After Two-Vehicle…

in Top Stories by Rita Dukes Smith, SurfKY News Director
July 21, 2014 1506

Business Spotlight - Painted Window Aims…

in Top Stories by Charles W. Riley II, SurfKY News
July 19, 2014 1463

Cash Mob Descends on Muhlenberg…

in Top Stories by Rita Dukes Smith, SurfKY News Director

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