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

Dave Says - November 25, 2012

dave R 300KENTUCKY (11/25/12) - This week Dave will be discussing Letting Them in on the Secret and What’s the Worst that can Happen?

Dear Dave,
I’m in a very fortunate position when it comes to my finances. I’m 25, and I make $50,000 a year. I’m also completely debt-free. In your opinion, when is it appropriate to let someone you’re dating know about your financial situation? - Anonymous

Dear Anonymous,
Wow, you are in a great position for someone so young. I’m not sure how you got there, but it certainly wasn’t by being dumb or immature.

I think it’s only natural in a dating situation to reveal more about oneself as time passes and the relationship gets deeper and more serious. In my mind, people who start throwing around financial information on a first date are either extremely superficial or just plain weird.

But after you’ve been dating a while, and definitely before you’re engaged, you should know everything about the other person. There should be complete disclosure in every area of your lives. That’s called intimacy. There’s no room for skeletons in the closet when it comes to a healthy relationship.

Just take your time and make sure you’re both committed to being open and honest about things. Then, as the relationship progresses, the depth of intimacy and the depth of information will progress in all areas of your lives. - Dave

Dear Dave,
My wife and I want to do a live-in/flip real estate purchase. The idea is to buy a fixer-upper and rent out the basement to help with the mortgage payments. What do you think about the idea? - Brian

Dear Brian,
I love real estate. I’ve flipped a few houses in my day too. But the particulars of the deal make me a little nervous.

In a situation like this you need to do a basic business analysis. You’ve got to have a plan and figure out the worst case scenario. Part of this is determining whether or not you can survive if things fall apart. In this case, the worst case is that you can’t get a renter and the house doesn’t sell. It puts your family in jeopardy if this happens, so to me it’s not an option.

Honestly, I think you’ve got house fever right now. The possibility I just mentioned isn’t a rare occurrence. Lots of people have had the same idea, with the best of intentions, and still end up in a big mess. But if you and your wife are willing to accept the possibility of things not working out like you planned—and the fact that you might have to take additional jobs for an unknown period of time just to make ends meet—then it might be a play. Me? I don’t like putting myself into skin-of-my-teeth positions intentionally. When I wore a younger man’s clothes, I was willing to do stuff and ignore the risk involved. Going broke years ago knocked that out of me in a hurry. Any deal that runs the risk of leaving you bankrupt, or the victim of a foreclosure, just isn’t worth 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 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.

button coupons
Started 11/8/2013
Started 11/8/2013
Started 11/8/2013
Started 11/8/2013
Started 11/8/2013
Started 11/8/2013
button classifieds

In Other News...

Happenings and Meetings - Hopkins County

HOPKINS COUNTY, Ky. (11/22/14) — The following meetings and events are scheduled for the following week: Poppy and… Read More

Land Between The Lakes Offers Free Cedar Christmas Trees

GOLDEN POND, Ky. (11/22/14) — Free Christmas tree permits for Land Between The Lakes National Recreation Area will be… Read More
Started 11/8/2013
Started 11/8/2013

Most Read This Week

November 21, 2014 5302

Man Accused of Assaulting Coach During Basketball…

in Local (Muhlenberg) Top News by Rita Dukes Smith, SurfKY News Director
November 18, 2014 5140

Couple Charged for Concealing Food in Infant Car…

in Local (Hopkins) Top News by Madisonville Police Department
November 17, 2014 4624

Police Charge Woman for Drug Possession After…

in Local (Hopkins) Top News by Madisonville Police Department
November 17, 2014 3836

Bremen Woman Ejected From Vehicle During Kentucky…

in Local (Muhlenberg) Top News by Trooper S.C. Recke
November 21, 2014 3242

Crashing Dump Trucks in Work Zone Cause Pennyrile…

in Top News For All Sites Touching Hopkins by Trooper Stu Recke
November 18, 2014 3169

Area Talent to Film Music Video at Merle Travis…

in Local (Muhlenberg) Top News by Paul McRee, SurfKY News
November 19, 2014 3059

Three Injured in Two-Vehicle Collision on South…

in Local (Hopkins) Top News by Gwen Smith
November 19, 2014 2865

Two Killed When Vehicle Becomes Airborne, Strikes…

in Local (Owensboro) Top News by Daviess County Sheriff's Office
November 21, 2014 2440

Muhlenberg District Court Fines Handed Down

in Local (Muhlenberg) Top News by Charles W. Riley II, SurfKY News
November 21, 2014 2312

Madisonville Police Arrest Reports - Nov. 21, 2014

in Hopkins News by Madisonville Police Department

Stories Trending Today

November 22, 2014 1830

One Injured in Two Vehicle Collion in Greenville

in Local (Muhlenberg) Top News by Miria Thomas
November 21, 2014 1470

KSP Announces 'Cram the Cruiser' to Feed the…

in Top News For All Sites Touching Hopkins by Stu Recke
November 22, 2014 1371

Greenville Representatives Taking Part in Austin,…

in Local (Muhlenberg) Top News by Paul McRee, SurfKY News
November 21, 2014 1365

Kentucky Employers to Save About $112 million

in General News For All Sites by Cathy Lindsey
November 22, 2014 1352

SAR Planning 'Triple' Revolutionary War Patriot…

in Local (Muhlenberg) Top News by Geoff Baggett
November 22, 2014 1268

Pennyrile Dulcimer Players Demonstrate Unique…

in Top News For All Sites by Ron Sanders
November 22, 2014 1268

Carve a Turkey Like a Pro

in General News For All Sites by SurfKY News
November 22, 2014 1207

Happenings and Meetings - Hopkins County

in Hopkins News by Amber Averitt, SurfKY News
November 22, 2014 1113

P'Pool Among Top Performing Child Support…

in Hopkins News by Cabinet for Health and Family Services
November 21, 2014 1056

Kentucky State Parks Winter Holiday Events

in General News For All Sites by Gil Lawson

SurfKY News Group, Inc.
Corporate Office & Studio
1125 Nebo Rd.  •  Madisonville, KY 42431
270.452.2727 (phone)
  •  270.452.2249 (fax)


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

social fbsocial twsocial yt
social gpsocial flrsocial rss